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重庆老赵

重庆老赵

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IP属地：重庆

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9主题

0勋章

01-15

20年21年接受处罚后的阿里和美团现在价位回到当初了吗？

01-14

$携程网(TCOM)$ 对照之前被立案处罚了的阿里和美团至今还在低位运行

01-14

看看20年后的阿里 21年后的美团、谁还认为这是个机会？

01-14

$携程网(TCOM)$ 已清仓，携程这次算是反内卷里竖立的反面教材吧、对照当年的阿里和美团股价至今还没回到当初、还是暂时避开为佳只是好奇为何官方公布立案消息时间为什么是港股收盘后的16:00？是为了掩护某些同志先撤退？另外论到垄断和算法收割滴滴不是更应该被拉出来打靶么？为何选择了携程？是因为背后的力量不够强大吗？[开心]

01-08

辅助驾驶不是无人驾驶[笑哭] 在特斯拉机器人上市前是特斯拉各种利空密集突发阶段

特斯拉辅助驾驶连续避让后追尾车主：刹车没反应车门和窗户打不开

01-07

只谈忧患这是唱空么？

特斯拉：一家或将陷入衰退的成长型企业

01-06

安卓再自由也不影响苹果成为顶流

01-06

安卓再自由也不妨碍苹果成为顶流

英伟达做了个FSD？马斯克淡定回应：我不会为此失眠

2025-12-07

$上海机场(600009)$ 即将与中免展开新一轮租赁谈判

2025-11-04

标题党[喷血]

特斯拉股东大会前夕，马斯克天价薪酬方案遭挪威主权财富基金公开反对

2025-10-13

卖了美股买了港股差价5%

2025-09-30

国内车贷的毁约量应该很小

信用销售规模暴增小鹏汽车巨额客户按揭尾款存减值风险

2025-09-13

曹操就一个垃圾公司

一周港股牛熊榜 | 周内狂飙56%！云锋金融解锁虚拟资产新赛道；“入通新贵”表现不佳，曹操出行周跌25%

2025-02-24

诈骗界面很优秀人民法院与资本心连心[开心] [开心]

携程系几个关于机票套餐的法院判例

2025-02-24

程维柳青王兴等有压力没？

京东：外卖骑手五险一金的所有成本，全部由京东承担

2024-06-10

1 不负粽旺 2与粽不同 3万粽一心 4 财华出粽 5一举高粽

2023-07-22

这是大A不可能出现的一幕

美股散户意外大胜！AMC优先股转普通股申请被驳回，盘后大涨一度接近翻倍

2022-12-11

一个流氓软件不会有太长的命

抱歉，原内容已删除

2022-09-03

垃圾炒作的垃圾股类似于诈骗

飙涨超86倍后暴跌98%，为何中概股极端行情频现？

2022-08-17

拼多多的套路敢在美国用么？

抱歉，原内容已删除

去老虎APP查看更多动态

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接受处罚后的阿里和美团 现在价位回到当初了吗？","listText":"20年21年 接受处罚后的阿里和美团 现在价位回到当初了吗？","text":"20年21年 接受处罚后的阿里和美团 现在价位回到当初了吗？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/522211224191224","isVote":1,"tweetType":1,"viewCount":1026,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3501110471229028","authorId":"3501110471229028","name":"赚钱去火星","avatar":"https://static.tigerbbs.com/b086a214bbd5d0efb72fd2f72b054b57","crmLevel":8,"crmLevelSwitch":1,"authorIdStr":"3501110471229028","idStr":"3501110471229028"},"content":"但是拼多多当年确实是机会。 [贱笑]","text":"但是拼多多当年确实是机会。 [贱笑]","html":"但是拼多多当年确实是机会。 [贱笑]"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":521689401184816,"gmtCreate":1768401617161,"gmtModify":1768405089055,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TCOM\">$携程网(TCOM)$&nbsp;</a><v-v data-views=\"0\"></v-v> 对照之前被立案处罚了的阿里和美团 至今还在低位运行","listText":"<a href=\"https://laohu8.com/S/TCOM\">$携程网(TCOM)$&nbsp;</a><v-v data-views=\"0\"></v-v> 对照之前被立案处罚了的阿里和美团 至今还在低位运行","text":"$携程网(TCOM)$ 对照之前被立案处罚了的阿里和美团 至今还在低位运行","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/521689401184816","isVote":1,"tweetType":1,"viewCount":268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":521670960149840,"gmtCreate":1768397044214,"gmtModify":1768397048487,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"title":"","htmlText":"看看20年后的阿里 21年后的美团 、谁还认为这是个机会？","listText":"看看20年后的阿里 21年后的美团 、谁还认为这是个机会？","text":"看看20年后的阿里 21年后的美团 、谁还认为这是个机会？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/521670960149840","isVote":1,"tweetType":1,"viewCount":1909,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3479274803156147","authorId":"3479274803156147","name":"0billionaire","avatar":"https://static.laohu8.com/picture159","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3479274803156147","idStr":"3479274803156147"},"content":"机会还在，耐心等回调！","text":"机会还在，耐心等回调！","html":"机会还在，耐心等回调！"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":521652096357424,"gmtCreate":1768392435432,"gmtModify":1768394892071,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"title":"","htmlText":"<a 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在特斯拉机器人上市前是特斯拉各种利空密集突发阶段","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/519596425883832","repostId":"2601369690","repostType":2,"repost":{"id":"2601369690","kind":"news","pubTimestamp":1767873971,"share":"https://www.laohu8.com/m/news/2601369690?lang=zh_CN&edition=full","pubTime":"2026-01-08 20:06","market":"us","language":"zh","title":"特斯拉辅助驾驶连续避让后追尾 车主：刹车没反应 车门和窗户打不开","url":"https://stock-news.laohu8.com/highlight/detail?id=2601369690","media":"快科技","summary":"但该车道同样有一辆大货车，特斯拉又变到了最右侧的导流线上，结果在前方导流线收窄的地方，车辆刹车不及追尾了前方的大货车，并被挤到了栏杆上。特斯拉车内气囊全部弹出，车门也被挤住打不开，车内甚至已经开始冒烟了，他们两人被困在车内，非常恐怖。此次事故特斯拉负全责，因为车辆没买车损险，车损非常严重，已经报废了。","content":"<html><body><article><p>快科技1月8日消息，据报道，近日，安徽岳西高速上，一辆<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>发生追尾事故，车主对车辆的辅助驾驶系统也产生了质疑。</p><p>行车记录仪<a href=\"https://laohu8.com/S/VIDE\">视频显示</a>，这辆特斯拉本来在最左侧的超车道行驶，前方大客车突然变道，特斯拉刹车不及，紧急变道至右侧车道。</p><p>但该车道同样有一辆大货车，特斯拉又变到了最右侧的导流线上，<strong>结果在前方导流线收窄的地方，车辆刹车不及追尾了前方的大货车，并被挤到了栏杆上。</strong></p><p>车主介绍，当时他开了辅助驾驶系统，他看到要追尾第一反应是踩刹车，但系统却让他避让，踩刹车没有反应，导致最后追尾，并被大货车挤着拖行了几十米。</p><p>特斯拉车内气囊全部弹出，车门也被挤住打不开，车内甚至已经开始冒烟了，他们两人被困在车内，非常恐怖。</p><p>最后，是大货车司机砸碎了车玻璃，他们才逃了出来。此次事故特斯拉负全责，<strong>因为车辆没买车损险，车损非常严重，已经报废了。</strong></p><p>车主表示，如果当时是他在开车，发生这样的事故他愿意承担事故责任。但现在的情况时，车辆是由辅助驾驶来开的，车辆失控才造成事故。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20260108201322229d163i88xupy3xmm\"/></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>特斯拉辅助驾驶连续避让后追尾 车主：刹车没反应 车门和窗户打不开</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n特斯拉辅助驾驶连续避让后追尾 车主：刹车没反应 车门和窗户打不开\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-08 20:06 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260108201331a70304a5&s=b><strong>快科技</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>快科技1月8日消息，据报道，近日，安徽岳西高速上，一辆特斯拉发生追尾事故，车主对车辆的辅助驾驶系统也产生了质疑。行车记录仪视频显示，这辆特斯拉本来在最左侧的超车道行驶，前方大客车突然变道，特斯拉刹车不及，紧急变道至右侧车道。但该车道同样有一辆大货车，特斯拉又变到了最右侧的导流线上，结果在前方导流线收窄的地方，车辆刹车不及追尾了前方的大货车，并被挤到了栏杆上。车主介绍，当时他开了辅助驾驶系统，他看到...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260108201331a70304a5&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","BK4598":"佩洛西持仓","BK4551":"寇图资本持仓","LU0056508442.USD":"贝莱德世界科技基金A2","LU0823414478.USD":"法巴经典能源转换基金","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH 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INC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260108201331a70304a5&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2601369690","content_text":"快科技1月8日消息，据报道，近日，安徽岳西高速上，一辆特斯拉发生追尾事故，车主对车辆的辅助驾驶系统也产生了质疑。行车记录仪视频显示，这辆特斯拉本来在最左侧的超车道行驶，前方大客车突然变道，特斯拉刹车不及，紧急变道至右侧车道。但该车道同样有一辆大货车，特斯拉又变到了最右侧的导流线上，结果在前方导流线收窄的地方，车辆刹车不及追尾了前方的大货车，并被挤到了栏杆上。车主介绍，当时他开了辅助驾驶系统，他看到要追尾第一反应是踩刹车，但系统却让他避让，踩刹车没有反应，导致最后追尾，并被大货车挤着拖行了几十米。特斯拉车内气囊全部弹出，车门也被挤住打不开，车内甚至已经开始冒烟了，他们两人被困在车内，非常恐怖。最后，是大货车司机砸碎了车玻璃，他们才逃了出来。此次事故特斯拉负全责，因为车辆没买车损险，车损非常严重，已经报废了。车主表示，如果当时是他在开车，发生这样的事故他愿意承担事故责任。但现在的情况时，车辆是由辅助驾驶来开的，车辆失控才造成事故。","news_type":1,"symbols_score_info":{"TSYW.SI":0.6,"TSLA":1.97}},"isVote":1,"tweetType":1,"viewCount":644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":519424845365664,"gmtCreate":1767787809349,"gmtModify":1767787811900,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"title":"","htmlText":"只谈忧患 这是唱空么？","listText":"只谈忧患 这是唱空么？","text":"只谈忧患 这是唱空么？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/519424845365664","repostId":"2601877535","repostType":2,"repost":{"id":"2601877535","kind":"news","pubTimestamp":1767784565,"share":"https://www.laohu8.com/m/news/2601877535?lang=zh_CN&edition=full","pubTime":"2026-01-07 19:16","market":"us","language":"zh","title":"特斯拉：一家或将陷入衰退的成长型企业","url":"https://stock-news.laohu8.com/highlight/detail?id=2601877535","media":"美股研究社","summary":"综上，储能业务虽是特斯拉目前唯一具备实际增长潜力的板块，但该业务正面临 “装机量增速放缓、单位营收持续下滑” 的双重压力。要知道，彼时特斯拉尚未遭遇如此严重的声誉危机与竞争压力。综合来看，特斯拉已不再是一家高速成长的企业，反而是正陷入衰退的泥潭。","content":"<html><body><article><p><strong>用户群体的疏远与核心人物风险</strong></p><p>我们不会深入探讨多头最看重的三大炒作概念 —— 完全自动驾驶（FSD）、人工智能与机器人技术。原因很简单，这三项业务至今均未产生实质性的财务收益，依旧停留在投机阶段。</p><p>即便未来其中一项或多项业务能够取得成功，也必须正视一个现实：这些领域的竞争都异常激烈，而<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>在切入这些赛道时，已然因创始人的政治立场卷入争议，导致品牌声誉受损，暴露出显著的<strong>核心人物风险</strong>。近年来，市场上一直流传着 “过度追求政治正确，终将反噬企业经营” 的说法，而这一道理反过来同样成立。特斯拉因立场问题疏远了至少半数消费者，进而可能损害用户信任 —— 这对公司的发展而言，无疑是一剂毒药。</p><img src=\"\"/><p>【如需和我们交流可扫码添加进社群】</p><img src=\"https://mmbiz.qpic.cn/mmbiz_png/dR7EpbvovdKBibR2JMaxUNVoEYIawaicLcrVAEs2bhwIEUP4FfvianI8UkwWsmGS8QGt9FUCfIVia1npfInK1SOWWQ/640?wx_fmt=png&amp;from=appmsg\"/><p><strong>储能业务：</strong></p><p><strong>装机量增长放缓，单位营收持续下滑</strong></p><p>接下来聚焦特斯拉的核心实体业务 —— 汽车制造与储能系统。在所有业务指标中，储能装机量（GWh）是特斯拉唯一能拿出手的增长数据。2025 年第四季度，公司储能装机量达到 14.2 吉瓦时的历史新高；全年装机量累计达 46.7 吉瓦时，展现出强劲的扩张态势。</p><p>但光鲜数据的背后，是<strong>同比增速的快速滑落</strong>：2025 年储能装机量同比增幅为 49%，远低于 2024 年的 114% 与 2023 年的 126%。市场预测，到 2029 年，这一增速将进一步放缓至 26%，对应装机量约 141.8 吉瓦时。</p><p>与装机量增速放缓相伴而来的，是<strong>单位装机量营收的持续走低</strong>。2020 至 2021 年，特斯拉每吉瓦时储能装机量能创造近 7 亿美元的营收；而到了 2025 年第二季度，这一数值已腰斩过半，降至 2.89 亿美元；第三季度进一步下滑至 2.76 亿美元。值得注意的是，过去五个季度里，储能业务的毛利率基本稳定在 25% 至 31% 的区间。</p><p>综上，储能业务虽是特斯拉目前唯一具备实际增长潜力的板块，但该业务正面临 “装机量增速放缓、单位营收持续下滑” 的双重压力。</p><img src=\"https://mmbiz.qpic.cn/mmbiz_png/dR7EpbvovdKBibR2JMaxUNVoEYIawaicLczbSMU66CbrBjDq7jpr5zsiclLE4DkRGuL9TVwK0r2tbvibNaKK4AzxHw/640?wx_fmt=png&amp;from=appmsg\"/><p><strong>汽车业务：</strong></p><p><strong>交付量下滑叠加售价走低，内外承压</strong></p><p>无论市场如何炒作新概念，汽车销售仍是特斯拉的核心支柱业务。已有大量报道指出，2025 年第四季度，特斯拉汽车交付量同比暴跌 16%；全年交付量同比下降 9%，创下公司史上最差的季度同比表现，同时也是连续第二个财年交付量下滑。</p><p>此外，根据分析师的测算，截至 2025 年第三季度，特斯拉汽车的过去十二个月（TTM）平均售价已<span>跌破</span> 4 万美元。</p><p>市场预测，到 2029 年，特斯拉汽车年交付量有望达到 300 万辆，较 2025 年的 160 万辆实现增长。但这一目标的可行性，分析师深表怀疑 —— 毕竟，特斯拉正面临日益激烈的市场竞争。即便我们姑且认可这一偏乐观的预测，其对应的 2029 年交付量同比增速也仅为 28%，与 2023 年之前的高速增长时代相去甚远。要知道，彼时特斯拉尚未遭遇如此严重的声誉危机与竞争压力。</p><p>从区域市场的表现中，我们更能直观感受到特斯拉的困境。2025 年 11 月，中国新能源汽车市场整体销量同比增长 21%，<a href=\"https://laohu8.com/S/XIACY\">小米</a>等中国本土品牌的交付量更是实现翻倍，而特斯拉在华销量却陷入同比停滞。</p><p>放眼全球市场，2025 年<a href=\"https://laohu8.com/S/BYDDY\">比亚迪</a>的纯电动汽车销量已大幅超越特斯拉。而在欧洲市场，马斯克的立场引发了消费者的强烈抵触：2025 年 12 月，特斯拉在瑞典、法国、西班牙、比利时、葡萄牙的新车注册量同比分别暴跌 71%、66%、44%、28% 和 13%。从欧洲主要市场的全年数据初步判断，特斯拉 2025 年的注册量同比降幅约为 25%，市场份额持续萎缩。</p><p>雪上加霜的是，受美国本土政策支持力度减弱等因素影响，2026 年全球新能源汽车销量的整体增速预计将显著放缓。</p><img src=\"https://mmbiz.qpic.cn/mmbiz_png/dR7EpbvovdKBibR2JMaxUNVoEYIawaicLciaWMQ0QPFPFmoNQtcVWichXhCuZB2x0BS879mNfIl6Lz8r5HIRlqLj6w/640?wx_fmt=png&amp;from=appmsg\"/><p><strong>估值泡沫：</strong></p><p><strong>人形机器人预期已被过度透支</strong></p><p>我们不妨暂且采信马斯克的说法 —— 预计到 2026 或 2027 年，特斯拉 Optimus 人形机器人的销量将突破 100 万台，单价或达 2.25 万美元，对应潜在营收约 225 亿美元。</p><p>但从下图的市场一致预期中可以看出，这部分潜在营收早已被<strong>完全计入当前估值</strong>。在覆盖特斯拉的 34 位分析师中，最乐观的预测认为，公司 2027 年的年化营收将较 2025 年增长 720 亿美元。由此可见，市场对特斯拉的预期已然达到了 “只能成功、不能失败” 的极端程度。</p><p>即便以这份极度乐观的 2027 年营收预期为基准，特斯拉当前对应的远期市盈率仍高达 147 倍。在之前的分析中，分析师曾从多个角度拆解特斯拉的估值，结论早已不言而喻：其估值水平早已脱离基本面，荒谬至极。而时至今日，这一结论依然成立。</p><img src=\"https://mmbiz.qpic.cn/mmbiz_jpg/dR7EpbvovdKLTlW17KYicXbduwZsUSFEKA3QhDoZBDRLD4pI17USiafzA7ib7ZgicBniaIKocAFvdFCDFy7DSsRicKibw/640?wx_fmt=jpeg&amp;from=appmsg\"/><p>数据来源：营收预期（Seeking Alpha）</p><img src=\"https://mmbiz.qpic.cn/mmbiz_png/dR7EpbvovdJ3W4gruZ6lz6pj1cuQvXYHzFTgv6zBDxN3hjm1PtXPLNKCakI3eyW9mPqibvjCvXwDia0vaM9Nht8w/640?wx_fmt=png&amp;from=appmsg\"/><p><strong>结语</strong></p><p>在竞争白热化的新能源汽车市场，特斯拉正面临交付量下滑与售价走低的双重压力；储能业务虽有增长，但增速放缓、单位营收下滑的隐忧日益凸显。人形机器人等新兴业务的潜在收益，早已被市场透支殆尽，当前估值完全建立在充满不确定性的预期之上。</p><p>更致命的是，创始人的政治立场引发的品牌声誉危机，以及由此带来的核心人物风险，正在持续损害公司的用户基础与市场竞争力。</p><p>综合来看，特斯拉已不再是一家高速成长的企业，反而是正陷入衰退的泥潭。对投资者而言，现在正是最后的离场时机。</p><img src=\"https://mmbiz.qpic.cn/mmbiz_jpg/dR7EpbvovdJlQNwm5fnHWnfblqB1P5B3gLTjg6j6dT5IyOFclcldYqPQickKMUqicdaXvibXdEb4OibV97CAwGO6TQ/640?wx_fmt=other&amp;wxfrom=5&amp;wx_lazy=1&amp;tp=webp#imgIndex=5\"/><img src=\"https://mmbiz.qpic.cn/mmbiz_jpg/dR7EpbvovdKnkt8t5QpwjNQOKyGlZz4SFiacicdM3aP4hZVCfGia7HbIYBoDxz2gubPAgoXDXhfrcLIfT2eG92icfw/640?wx_fmt=other&amp;from=appmsg&amp;wxfrom=5&amp;wx_lazy=1&amp;tp=webp#imgIndex=6\"/><img src=\"https://mmbiz.qpic.cn/mmbiz_gif/dR7EpbvovdLt0fplojSTcIf4vTY1fP5f5VhIsL3QI5iaHIficMHKVzpaxPOM0yB24Zgs1PJlLHXFs5UXKRic0iaTxA/640?wx_fmt=gif&amp;from=appmsg&amp;wxfrom=5&amp;wx_lazy=1&amp;tp=webp#imgIndex=7\"/></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>特斯拉：一家或将陷入衰退的成长型企业</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n特斯拉：一家或将陷入衰退的成长型企业\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-07 19:16 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260107192635a4a7912b&s=b><strong>美股研究社</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>用户群体的疏远与核心人物风险我们不会深入探讨多头最看重的三大炒作概念 —— 完全自动驾驶（FSD）、人工智能与机器人技术。原因很简单，这三项业务至今均未产生实质性的财务收益，依旧停留在投机阶段。即便未来其中一项或多项业务能够取得成功，也必须正视一个现实：这些领域的竞争都异常激烈，而特斯拉在切入这些赛道时，已然因创始人的政治立场卷入争议，导致品牌声誉受损，暴露出显著的核心人物风险。近年来，市场上一直...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260107192635a4a7912b&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","BK4604":"机器人概念","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","BK4527":"明星科技股","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) 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ACC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260107192635a4a7912b&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2601877535","content_text":"用户群体的疏远与核心人物风险我们不会深入探讨多头最看重的三大炒作概念 —— 完全自动驾驶（FSD）、人工智能与机器人技术。原因很简单，这三项业务至今均未产生实质性的财务收益，依旧停留在投机阶段。即便未来其中一项或多项业务能够取得成功，也必须正视一个现实：这些领域的竞争都异常激烈，而特斯拉在切入这些赛道时，已然因创始人的政治立场卷入争议，导致品牌声誉受损，暴露出显著的核心人物风险。近年来，市场上一直流传着 “过度追求政治正确，终将反噬企业经营” 的说法，而这一道理反过来同样成立。特斯拉因立场问题疏远了至少半数消费者，进而可能损害用户信任 —— 这对公司的发展而言，无疑是一剂毒药。【如需和我们交流可扫码添加进社群】储能业务：装机量增长放缓，单位营收持续下滑接下来聚焦特斯拉的核心实体业务 —— 汽车制造与储能系统。在所有业务指标中，储能装机量（GWh）是特斯拉唯一能拿出手的增长数据。2025 年第四季度，公司储能装机量达到 14.2 吉瓦时的历史新高；全年装机量累计达 46.7 吉瓦时，展现出强劲的扩张态势。但光鲜数据的背后，是同比增速的快速滑落：2025 年储能装机量同比增幅为 49%，远低于 2024 年的 114% 与 2023 年的 126%。市场预测，到 2029 年，这一增速将进一步放缓至 26%，对应装机量约 141.8 吉瓦时。与装机量增速放缓相伴而来的，是单位装机量营收的持续走低。2020 至 2021 年，特斯拉每吉瓦时储能装机量能创造近 7 亿美元的营收；而到了 2025 年第二季度，这一数值已腰斩过半，降至 2.89 亿美元；第三季度进一步下滑至 2.76 亿美元。值得注意的是，过去五个季度里，储能业务的毛利率基本稳定在 25% 至 31% 的区间。综上，储能业务虽是特斯拉目前唯一具备实际增长潜力的板块，但该业务正面临 “装机量增速放缓、单位营收持续下滑” 的双重压力。汽车业务：交付量下滑叠加售价走低，内外承压无论市场如何炒作新概念，汽车销售仍是特斯拉的核心支柱业务。已有大量报道指出，2025 年第四季度，特斯拉汽车交付量同比暴跌 16%；全年交付量同比下降 9%，创下公司史上最差的季度同比表现，同时也是连续第二个财年交付量下滑。此外，根据分析师的测算，截至 2025 年第三季度，特斯拉汽车的过去十二个月（TTM）平均售价已跌破 4 万美元。市场预测，到 2029 年，特斯拉汽车年交付量有望达到 300 万辆，较 2025 年的 160 万辆实现增长。但这一目标的可行性，分析师深表怀疑 —— 毕竟，特斯拉正面临日益激烈的市场竞争。即便我们姑且认可这一偏乐观的预测，其对应的 2029 年交付量同比增速也仅为 28%，与 2023 年之前的高速增长时代相去甚远。要知道，彼时特斯拉尚未遭遇如此严重的声誉危机与竞争压力。从区域市场的表现中，我们更能直观感受到特斯拉的困境。2025 年 11 月，中国新能源汽车市场整体销量同比增长 21%，小米等中国本土品牌的交付量更是实现翻倍，而特斯拉在华销量却陷入同比停滞。放眼全球市场，2025 年比亚迪的纯电动汽车销量已大幅超越特斯拉。而在欧洲市场，马斯克的立场引发了消费者的强烈抵触：2025 年 12 月，特斯拉在瑞典、法国、西班牙、比利时、葡萄牙的新车注册量同比分别暴跌 71%、66%、44%、28% 和 13%。从欧洲主要市场的全年数据初步判断，特斯拉 2025 年的注册量同比降幅约为 25%，市场份额持续萎缩。雪上加霜的是，受美国本土政策支持力度减弱等因素影响，2026 年全球新能源汽车销量的整体增速预计将显著放缓。估值泡沫：人形机器人预期已被过度透支我们不妨暂且采信马斯克的说法 —— 预计到 2026 或 2027 年，特斯拉 Optimus 人形机器人的销量将突破 100 万台，单价或达 2.25 万美元，对应潜在营收约 225 亿美元。但从下图的市场一致预期中可以看出，这部分潜在营收早已被完全计入当前估值。在覆盖特斯拉的 34 位分析师中，最乐观的预测认为，公司 2027 年的年化营收将较 2025 年增长 720 亿美元。由此可见，市场对特斯拉的预期已然达到了 “只能成功、不能失败” 的极端程度。即便以这份极度乐观的 2027 年营收预期为基准，特斯拉当前对应的远期市盈率仍高达 147 倍。在之前的分析中，分析师曾从多个角度拆解特斯拉的估值，结论早已不言而喻：其估值水平早已脱离基本面，荒谬至极。而时至今日，这一结论依然成立。数据来源：营收预期（Seeking Alpha）结语在竞争白热化的新能源汽车市场，特斯拉正面临交付量下滑与售价走低的双重压力；储能业务虽有增长，但增速放缓、单位营收下滑的隐忧日益凸显。人形机器人等新兴业务的潜在收益，早已被市场透支殆尽，当前估值完全建立在充满不确定性的预期之上。更致命的是，创始人的政治立场引发的品牌声誉危机，以及由此带来的核心人物风险，正在持续损害公司的用户基础与市场竞争力。综合来看，特斯拉已不再是一家高速成长的企业，反而是正陷入衰退的泥潭。对投资者而言，现在正是最后的离场时机。","news_type":1,"symbols_score_info":{"TSYW.SI":0.6,"TSLA":1.98}},"isVote":1,"tweetType":1,"viewCount":257,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":518891611710264,"gmtCreate":1767711732407,"gmtModify":1767711734666,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"安卓再自由 也不影响苹果成为顶流","listText":"安卓再自由 也不影响苹果成为顶流","text":"安卓再自由 也不影响苹果成为顶流","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/518891611710264","isVote":1,"tweetType":1,"viewCount":587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":519106789101904,"gmtCreate":1767709220520,"gmtModify":1767709222828,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"title":"","htmlText":"安卓再自由 也不妨碍苹果成为顶流","listText":"安卓再自由 也不妨碍苹果成为顶流","text":"安卓再自由 也不妨碍苹果成为顶流","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/519106789101904","repostId":"2601640188","repostType":2,"repost":{"id":"2601640188","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1767685847,"share":"https://www.laohu8.com/m/news/2601640188?lang=zh_CN&edition=full","pubTime":"2026-01-06 15:50","market":"sh","language":"zh","title":"英伟达做了个FSD？马斯克淡定回应：我不会为此失眠","url":"https://stock-news.laohu8.com/highlight/detail?id=2601640188","media":"华尔街见闻","summary":"英伟达CES发布开源自动驾驶模型Alpamayo，号称“物理AI的ChatGPT时刻”，将随奔驰CLA一季度上路。面对这一能“思考推理”的强劲对手，马斯克回应称解决长尾问题才是关键，并直言：“我才不会因为这个失眠，真心希望他们能成功。”","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>在CES 2026展会上推出名为Alpamayo的开源自动驾驶AI模型，<strong>CEO黄仁勋称其为&#34;世界上首款能思考、能推理的自动驾驶汽车AI&#34;</strong>，直接挑战<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>的FSD系统。</p><p>1月6日，电动汽车分析师Sawyer Merritt在X平台发帖称，英伟达宣布将于今年晚些时候在美国道路上推出Alpamayo。马斯克对此回应称：&#34;好吧，这正是特斯拉在做的。他们会发现，达到99%很容易，但要解决分布的长尾问题却非常困难。&#34;</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/da5cba922f60a5ba6c23a4c0edbcd586\" tg-width=\"1024\" tg-height=\"1219\"/></p><p>当有网友表示担心Alpamayo成为FSD的首个真正竞争对手，并指出英伟达可以在没有任何车队的情况下达到接近99%的水平，证明大规模车队数据已不再重要时，马斯克再次回应：&#34;我才不会因为这个失眠呢。我真心希望他们能成功。&#34;</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/962b7db4bee1027917e211e73b58ad87\" tg-width=\"1024\" tg-height=\"1013\"/></p><h2 id=\"id_3075483512\">英伟达的&#34;推理式&#34;自动驾驶</h2><p><strong>英伟达将Alpamayo称为&#34;物理AI的ChatGPT时刻&#34;。</strong>这一开源AI模型家族旨在解决自动驾驶的&#34;长尾问题&#34;，即那些导致自动驾驶系统脱离或失败的罕见边缘案例。</p><p>旗舰产品Alpamayo 1是一个拥有100亿参数的视觉-语言-行动（VLA）模型。与传统自动驾驶系统仅检测物体和规划路径不同，Alpamayo采用&#34;链式推理&#34;方式。它处理视频输入并生成行驶轨迹，但更关键的是，它还会输出决策背后的逻辑。</p><p>黄仁勋表示：<strong>“这不仅仅是一个驾驶模型，而是一个能解释自己思考过程的模型。”</strong>展会上黄仁勋播放了一段演示视频，Alpamayo不仅能驾驶汽车，还能用自然语言解释自己的决策逻辑，例如“前方车辆刹车灯亮起，它可能减速，所以我应该保持距离”。</p><h2 id=\"id_1957901506\">开源策略对抗特斯拉封闭系统</h2><p>英伟达正通过全面的开源策略切入自动驾驶领域，其最新发布的Alpamayo 1模型权重已在Hugging Face平台开放获取，同步推出的还包括端到端仿真框架AlpaSim以及涵盖1700小时复杂驾驶场景的物理AI开放数据集。</p><p><strong>此举标志着英伟达正以“自动驾驶领域的安卓系统”为定位，构建开放生态，与特斯拉完全封闭的FSD系统形成差异化竞争路径</strong>。英伟达同时宣布，该项技术将自今年第一季度起搭载于梅赛德斯-奔驰CLA车型上，迈出商业化落地的重要一步。</p><h2 id=\"id_2999805665\">马斯克的&#34;长尾问题&#34;论</h2><p>马斯克的回应直指自动驾驶行业的核心瓶颈：模型性能的“长尾困境”。他指出，实现99%场景的高准确率相对可行，但攻克剩余1%的罕见却至关重要的“边缘案例”，才是真正决定技术能否安全落地的关键。</p><p>即便英伟达发布了推理能力更强的开源模型，在应对现实道路的极端复杂性和不确定性时，仍难以绕过特斯拉通过大规模部署所建立的数据与工程壁垒。</p><p>目前，特斯拉FSD系统已在全球数百万辆车上持续运行，积累了涵盖海量场景、尤其是“长尾问题”的真实道路数据与闭环优化经验，这正是其在迭代效率和场景覆盖深度上的结构性优势。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n英伟达做了个FSD？马斯克淡定回应：我不会为此失眠\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-06 15:50 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3762641><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>英伟达在CES 2026展会上推出名为Alpamayo的开源自动驾驶AI模型，CEO黄仁勋称其为\"世界上首款能思考、能推理的自动驾驶汽车AI\"，直接挑战特斯拉的FSD系统。1月6日，电动汽车分析师Sawyer Merritt在X平台发帖称，英伟达宣布将于今年晚些时候在美国道路上推出Alpamayo。马斯克对此回应称：\"好吧，这正是特斯拉在做的。他们会发现，达到99%很容易，但要解决分布的长尾问题却...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3762641\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f51e0887617e5ccdb1f56ab9d6b7e088","relate_stocks":{"LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU2125909247.SGD":"Natixis Thematics Meta H-R/A SGD","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1821325948.USD":"NINETY ONE GSF GLOBAL MACRO ALLOCATION \"A\" (USD) 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1是一个拥有100亿参数的视觉-语言-行动（VLA）模型。与传统自动驾驶系统仅检测物体和规划路径不同，Alpamayo采用\"链式推理\"方式。它处理视频输入并生成行驶轨迹，但更关键的是，它还会输出决策背后的逻辑。黄仁勋表示：“这不仅仅是一个驾驶模型，而是一个能解释自己思考过程的模型。”展会上黄仁勋播放了一段演示视频，Alpamayo不仅能驾驶汽车，还能用自然语言解释自己的决策逻辑，例如“前方车辆刹车灯亮起，它可能减速，所以我应该保持距离”。开源策略对抗特斯拉封闭系统英伟达正通过全面的开源策略切入自动驾驶领域，其最新发布的Alpamayo 1模型权重已在Hugging Face平台开放获取，同步推出的还包括端到端仿真框架AlpaSim以及涵盖1700小时复杂驾驶场景的物理AI开放数据集。此举标志着英伟达正以“自动驾驶领域的安卓系统”为定位，构建开放生态，与特斯拉完全封闭的FSD系统形成差异化竞争路径。英伟达同时宣布，该项技术将自今年第一季度起搭载于梅赛德斯-奔驰CLA车型上，迈出商业化落地的重要一步。马斯克的\"长尾问题\"论马斯克的回应直指自动驾驶行业的核心瓶颈：模型性能的“长尾困境”。他指出，实现99%场景的高准确率相对可行，但攻克剩余1%的罕见却至关重要的“边缘案例”，才是真正决定技术能否安全落地的关键。即便英伟达发布了推理能力更强的开源模型，在应对现实道路的极端复杂性和不确定性时，仍难以绕过特斯拉通过大规模部署所建立的数据与工程壁垒。目前，特斯拉FSD系统已在全球数百万辆车上持续运行，积累了涵盖海量场景、尤其是“长尾问题”的真实道路数据与闭环优化经验，这正是其在迭代效率和场景覆盖深度上的结构性优势。","news_type":1,"symbols_score_info":{"3NVD.UK":0.6,"SNVD.UK":0.6,"NVDD":0.6,"TSLA":1.93,"NVDS":0.6,"NVIW.SI":0.6,"NVD":0.6,"NVDS.UK":0.6,"NVDA":1.95,"UFO":0.6,"NVDU":0.6,"NVDY":0.6,"2NVD.UK":0.6,"NVDX":0.6,"TSYW.SI":0.6,"NVD3.UK":0.6,"NVD2.UK":0.6,"NVDL":0.6}},"isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":508473488351552,"gmtCreate":1765121410261,"gmtModify":1765121412603,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"title":"","htmlText":"<a 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即将与中免展开新一轮租赁谈判","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/508473488351552","isVote":1,"tweetType":1,"viewCount":980,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":496512136340256,"gmtCreate":1762241560262,"gmtModify":1762241562534,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"title":"","htmlText":"标题党[喷血]&nbsp;&nbsp;","listText":"标题党[喷血]&nbsp;&nbsp;","text":"标题党[喷血]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/496512136340256","repostId":"1145818375","repostType":2,"repost":{"id":"1145818375","kind":"news","pubTimestamp":1762240875,"share":"https://www.laohu8.com/m/news/1145818375?lang=zh_CN&edition=full","pubTime":"2025-11-04 15:21","market":"us","language":"zh","title":"特斯拉股东大会前夕，马斯克天价薪酬方案遭挪威主权财富基金公开反对","url":"https://stock-news.laohu8.com/highlight/detail?id=1145818375","media":"智通财经网","summary":"成为首个对该方案做出决定的主要投资者。","content":"<html><head></head><body><p>作为 <a href=\"https://laohu8.com/S/TSLA\">特斯拉</a> 第九大股东的挪威主权财富基金投票反对特斯拉为其首席执行官埃隆·马斯克提供的史无前例的1万亿美元薪酬方案。这是目前来自特斯拉大股东之一的最强烈反对信号。截至发稿，特斯拉周二美股盘前跌超2%。</p><p style=\"text-align: justify;\">由挪威央行投资管理公司(NBIM)运营的挪威主权财富基金在其官网中表示：“尽管我们认可马斯克以其远见卓识为公司创造了巨大的价值，但我们对该奖励方案的总体规模、稀释效应以及缺乏关键人物风险缓解措施表示担忧。”</p><p style=\"text-align: justify;\">据悉，挪威主权财富基金此前也曾投票反对马斯克的薪酬方案。该方案于去年6月获股东再次批准，但随后被特拉华州法院裁定无效。特斯拉董事会在提起上诉的同时，又重新为马斯克设计了新的奖励方案。</p><p style=\"text-align: justify;\">此外，该基金还反对股东提议特斯拉投资马斯克的人工智能初创公司xAI，并反对艾拉·埃伦普瑞斯(Ira Ehrenpreis)和凯瑟琳·威尔逊-汤普森(Kathleen Wilson-Thompson)连任特斯拉董事会成员。该基金支持的一位即将连任的董事是爱彼迎的联合创始人乔•杰比亚(Joe Gebbia)。</p><p style=\"text-align: justify;\">该基金在解释反对两位董事连任的投票理由时写道：“当董事会未能以股东的最佳利益为导向行事时，股东应有权寻求对董事会作出调整。”该基金未说明其反对特斯拉投资xAI的原因，也未解释支持杰比亚连任的理由。</p><p style=\"text-align: justify;\"><strong>特斯拉股东大会召开在即</strong></p><p style=\"text-align: justify;\">特斯拉将于美东时间11月6日召开年度股东大会，届时将对9月提出的一份高达1万亿美元的薪酬方案进行表决。该薪酬方案显示，如果马斯克实现一系列业绩目标，他将获得最高达1万亿美元的股票奖励。这些目标包括：特斯拉市值达到8.5万亿美元、销售1200万辆汽车、交付100万台人形机器人、投放100万辆自动驾驶出租车(Robotaxi)，以及将调整后盈利从2024年的166亿美元提高至4000亿美元。</p><p style=\"text-align: justify;\">若获通过，这将成为企业史上规模最大的薪酬方案。此外，如果该薪酬方案获通过，马斯克在特斯拉的持股比例将从13%提升至近29%，这将赋予他更大的控制权。</p><p style=\"text-align: justify;\">不过，这项薪酬提案引发机构股东服务公司(ISS)等代理咨询机构的批评。ISS呼吁投资者投反对票，理由是该方案规模过于庞大且缺乏有效约束机制。</p><p style=\"text-align: justify;\">与此同时，特斯拉董事长丹霍姆(Robyn Denholm)在上周一致股东的一封信中警告称，如果马斯克的1万亿美元薪酬方案未获批准，这位首席执行官可能会离开特斯拉。丹霍姆在股东信中呼吁投票支持这份薪酬方案，并敦促投资者重新选举三位与马斯克密切合作的资深董事。她表示，这一基于业绩的薪酬方案旨在留住并激励马斯克，让他在未来至少再领导特斯拉七年半。</p><p style=\"text-align: justify;\">丹霍姆指出，随着特斯拉致力于成为全球人工智能(AI)与自动驾驶技术的领导者，马斯克的角色尤为关键。她补充称，马斯克的领导对特斯拉的成功“至关重要”，并警告如果没有一个能有效激励马斯克的计划，公司可能会失去他的“时间、才华与远见”。</p><p style=\"text-align: justify;\">丹霍姆还表示：“他一直在坚持这一观点——未来应确保自己在特斯拉拥有足够的投票影响力，以防止AI相关的坏事发生。因此，这次薪酬方案的核心并非金钱，而是投票权的影响力。”</p><p style=\"text-align: justify;\">值得一提的是，特斯拉董事会近年来一直因与马斯克关系过于密切而受到外界批评，并被指未能充分维护股东利益，而治理专家和维权团体也对其独立性及对马斯克影响力的监督提出质疑。今年早些时候，特拉华州法院撤销了马斯克2018年的薪酬协议，裁定该协议授予不当，且谈判过程由缺乏独立性的董事主导。</p></body></html>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>特斯拉股东大会前夕，马斯克天价薪酬方案遭挪威主权财富基金公开反对</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n特斯拉股东大会前夕，马斯克天价薪酬方案遭挪威主权财富基金公开反对\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-04 15:21 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.zhitongcaijing.com/content/detail/1365160.html><strong>智通财经网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作为 特斯拉 第九大股东的挪威主权财富基金投票反对特斯拉为其首席执行官埃隆·马斯克提供的史无前例的1万亿美元薪酬方案。这是目前来自特斯拉大股东之一的最强烈反对信号。截至发稿，特斯拉周二美股盘前跌超2%。由挪威央行投资管理公司(NBIM)运营的挪威主权财富基金在其官网中表示：“尽管我们认可马斯克以其远见卓识为公司创造了巨大的价值，但我们对该奖励方案的总体规模、稀释效应以及缺乏关键人物风险缓解措施表示...</p>\n\n<a href=\"https://www.zhitongcaijing.com/content/detail/1365160.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9e3988a75d33e2b4f95370655c056098","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.zhitongcaijing.com/content/detail/1365160.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1145818375","content_text":"作为 特斯拉 第九大股东的挪威主权财富基金投票反对特斯拉为其首席执行官埃隆·马斯克提供的史无前例的1万亿美元薪酬方案。这是目前来自特斯拉大股东之一的最强烈反对信号。截至发稿，特斯拉周二美股盘前跌超2%。由挪威央行投资管理公司(NBIM)运营的挪威主权财富基金在其官网中表示：“尽管我们认可马斯克以其远见卓识为公司创造了巨大的价值，但我们对该奖励方案的总体规模、稀释效应以及缺乏关键人物风险缓解措施表示担忧。”据悉，挪威主权财富基金此前也曾投票反对马斯克的薪酬方案。该方案于去年6月获股东再次批准，但随后被特拉华州法院裁定无效。特斯拉董事会在提起上诉的同时，又重新为马斯克设计了新的奖励方案。此外，该基金还反对股东提议特斯拉投资马斯克的人工智能初创公司xAI，并反对艾拉·埃伦普瑞斯(Ira Ehrenpreis)和凯瑟琳·威尔逊-汤普森(Kathleen Wilson-Thompson)连任特斯拉董事会成员。该基金支持的一位即将连任的董事是爱彼迎的联合创始人乔•杰比亚(Joe Gebbia)。该基金在解释反对两位董事连任的投票理由时写道：“当董事会未能以股东的最佳利益为导向行事时，股东应有权寻求对董事会作出调整。”该基金未说明其反对特斯拉投资xAI的原因，也未解释支持杰比亚连任的理由。特斯拉股东大会召开在即特斯拉将于美东时间11月6日召开年度股东大会，届时将对9月提出的一份高达1万亿美元的薪酬方案进行表决。该薪酬方案显示，如果马斯克实现一系列业绩目标，他将获得最高达1万亿美元的股票奖励。这些目标包括：特斯拉市值达到8.5万亿美元、销售1200万辆汽车、交付100万台人形机器人、投放100万辆自动驾驶出租车(Robotaxi)，以及将调整后盈利从2024年的166亿美元提高至4000亿美元。若获通过，这将成为企业史上规模最大的薪酬方案。此外，如果该薪酬方案获通过，马斯克在特斯拉的持股比例将从13%提升至近29%，这将赋予他更大的控制权。不过，这项薪酬提案引发机构股东服务公司(ISS)等代理咨询机构的批评。ISS呼吁投资者投反对票，理由是该方案规模过于庞大且缺乏有效约束机制。与此同时，特斯拉董事长丹霍姆(Robyn Denholm)在上周一致股东的一封信中警告称，如果马斯克的1万亿美元薪酬方案未获批准，这位首席执行官可能会离开特斯拉。丹霍姆在股东信中呼吁投票支持这份薪酬方案，并敦促投资者重新选举三位与马斯克密切合作的资深董事。她表示，这一基于业绩的薪酬方案旨在留住并激励马斯克，让他在未来至少再领导特斯拉七年半。丹霍姆指出，随着特斯拉致力于成为全球人工智能(AI)与自动驾驶技术的领导者，马斯克的角色尤为关键。她补充称，马斯克的领导对特斯拉的成功“至关重要”，并警告如果没有一个能有效激励马斯克的计划，公司可能会失去他的“时间、才华与远见”。丹霍姆还表示：“他一直在坚持这一观点——未来应确保自己在特斯拉拥有足够的投票影响力，以防止AI相关的坏事发生。因此，这次薪酬方案的核心并非金钱，而是投票权的影响力。”值得一提的是，特斯拉董事会近年来一直因与马斯克关系过于密切而受到外界批评，并被指未能充分维护股东利益，而治理专家和维权团体也对其独立性及对马斯克影响力的监督提出质疑。今年早些时候，特拉华州法院撤销了马斯克2018年的薪酬协议，裁定该协议授予不当，且谈判过程由缺乏独立性的董事主导。","news_type":1,"symbols_score_info":{"TSLA":2}},"isVote":1,"tweetType":1,"viewCount":1425,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4197501899611212","authorId":"4197501899611212","name":"Y.is","avatar":"https://static.tigerbbs.com/7870baab54008189f9f1ce3dfc25d09f","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4197501899611212","idStr":"4197501899611212"},"content":"确实好恶心，这种垃圾小编","text":"确实好恶心，这种垃圾小编","html":"确实好恶心，这种垃圾小编"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":488790959358112,"gmtCreate":1760361053664,"gmtModify":1760361056136,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"卖了美股 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差价5%","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/488790959358112","isVote":1,"tweetType":1,"viewCount":750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":484168431649072,"gmtCreate":1759233646676,"gmtModify":1759233649041,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"国内车贷的毁约量应该很小","listText":"国内车贷的毁约量应该很小","text":"国内车贷的毁约量应该很小","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/484168431649072","repostId":"2571696399","repostType":2,"repost":{"id":"2571696399","kind":"news","pubTimestamp":1759200304,"share":"https://www.laohu8.com/m/news/2571696399?lang=zh_CN&edition=full","pubTime":"2025-09-30 10:45","market":"us","language":"zh","title":"信用销售规模暴增 小鹏汽车巨额客户按揭尾款存减值风险","url":"https://stock-news.laohu8.com/highlight/detail?id=2571696399","media":"中国能源网","summary":"小鹏汽车预计第三季度总收入在196亿元至210亿元之间，同比增长约94%至107.9%。小鹏汽车在财报中将应收账款与应收分期付款分开进行列报。截至今年6月底，小鹏汽车应收账款和票据净额合计17.64亿元，较2025年年初减少27.97%。这些活动在刺激销售的同时，也使得小鹏汽车对客户的应收分期付款规模持续增长。小鹏汽车称，供应商一般授予公司0至60日的信贷期。","content":"<p>自从两年前原<a href=\"https://laohu8.com/S/601633\">长城汽车</a>（601633.SH，02333.HK）副董事长、总裁王凤英出任<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>（09868.HK）联席总裁后，其主导的渠道变革、成本管控取得了一定效果——<a href=\"https://laohu8.com/S/09868\">小鹏汽车</a>9月22日披露的中期报告显示，公司汽车产品销量、营业收入同比均大幅增长，当期亏损大幅收窄，但累计亏损扩大至427.44亿元。</p><p>《经济参考报》记者注意到，小鹏汽车从2023年启动“木星计划”至今年上半年，直营店占比已由早期的约70%下降至目前的约30%。借助“渠道变革+信用销售”，公司汽车销量实现“逆袭”，应收款项结构大变，应收分期付款余额增长至72.55亿元。</p><p>“投资者在分析小鹏汽车应收账款的同时，要高度注意公司不断增加的应收分期付款规模及坏账计提情况”，9月23日，知名财税审专家刘志耕在接受《经济参考报》记者采访时表示，由于预期信用损失风险的计算模型存在一定的主观空间，可能成为公司利润调节工具。受宏观经济波动及行业周期等因素影响，这些规模庞大的分期付款违约率可能上升，公司需建立压力测试模型，评估不同经济场景下的风险敞口。</p><p><strong>应收分期付款规模跳跃式增长</strong></p><p>中报显示，今年上半年，小鹏汽车实现总收入340.9亿元，同比增长132.5%，归属于公司普通股股东的净利润为-11.4亿元，较去年同期的-26.53亿元大幅收窄。尽管如此，小鹏汽车的累计亏损扩大至427.44亿元。</p><p>上半年公司业绩改善源于汽车交付量增加。今年上半年，小鹏汽车交付量约为19.72万辆，同比增加279%。7月份总交付量约为3.67万辆，前7月累计交付量约为23.39万辆。小鹏汽车预计第三季度总收入在196亿元至210亿元之间，同比增长约94%至107.9%。</p><p>收入大增，赊销功不可没。小鹏汽车在财报中将应收账款与应收分期付款分开进行列报。其中，应收账款及票据指在正常销售汽车过程中，应收大批量购车者的款项，以及代客户收取的政府补贴款项。应收分期付款主要包括公司应收客户的汽车或电池分期付款的应收款项总额。</p><p>截至今年6月底，小鹏汽车应收账款和票据净额合计17.64亿元，较2025年年初减少27.97%。不过，公司期末应收分期付款的流动部分净额为26.71亿元，较2025年年初增加4.40%，应收分期付款的非流动部分净额为45.84亿元，较2024年年末增加1.78%，两项合计72.55亿元，较2024年年末增加2.26%。</p><p>小鹏汽车应收款结构之所以出现“一增一减”的变化，与公司销售模式变化有关。</p><p>2023年1月，王凤英出任小鹏汽车总裁后主抓两件事：销售渠道整合和成本管控。截至2022年底，小鹏汽车在中国大陆共有420家门店，其中：直营门店294家（占比约70%）、经销商门店126家（占比约30%），公司2022年汽车总销量为12.08万辆。2023年、2024年汽车总销量分别为14.16万辆、19万辆，今年上半年增加到19.72万辆，超过去年全年交付量。截至今年6月底，小鹏汽车在中国内地共有677家门店，其中经销商门店约474家，直营门店约203家。</p><p>记者注意到，小鹏汽车近年来推出了不少类似“零首付购车”的杠杆购车活动。这些活动在刺激销售的同时，也使得小鹏汽车对客户的应收分期付款规模持续增长。</p><p>财报显示，2022年、2023年、2024年及2025年上半年，小鹏汽车应收分期付款期末账面值分别为35.71亿元、50.31亿元、70.95亿元及73.46亿元，呈现出跳跃式增长态势，对应当期坏账计提金额分别为0.88亿元、1.22亿元、0.88亿元及0.90亿元，坏账计提比例分别为2.46%、2.42%、1.24%及1.23%，坏账计提比例呈现不断下滑趋势。无论是坏账计提金额还是计提比例均与应收分期支付款规模走势相悖。</p><p>小鹏汽车近年来应收分期付款及坏账计提情况 （单位/亿元）</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b416e2979d1cd69deb400271039886ba\" tg-width=\"660\" tg-height=\"212\"></p><p>资料来源：公司公告 制表：郭新志</p><p>小鹏汽车没有解释应收分期付款暴增的具体原因。公司称，公司应收账款主要包括代表客户向政府领取的与政府补贴有关的车辆销售金额及向大批量客户在常规业务中的车辆销售金额。向个人客户的销售通常通过客户的垫款作出。向大批量买方的销售按介乎30至60日的信用期作出。</p><p><strong>占用供应链资金状况有待改善</strong></p><p>近年来，车企利用自身地位占用供应商资金现象突出，引发社会广泛关注。《保障中小企业款项支付条例》修订版自今年6月1日起正式实施，众多车企纷纷承诺“60天账期”。9月15日，中国汽车工业协会就“整车企业供应商账款支付规范”发出倡议。倡导整车企业支付账期自供应商企业交货并通过整车企业验收合格之日起计算，最长不超过60个自然日（如支付当日遇法定节假日顺延）。</p><p>应付贸易款项是观察上市车企占用供应商贸易款项的重要评估指标。<a href=\"https://laohu8.com/S/300033\">同花顺</a>iFinD数据显示，今年上半年，纳入统计范围的16家上市乘用车企业（A股+H股）的应付账款和应付票据（以下简称“应付贸易款项”）合计0.95万亿元，较2024年年末减少6.21%，其中，13家车企的应付贸易款项呈现下降趋势，表明车企占用供应商资金的情况整体有所缓解。</p><p>财报显示，截至今年6月30日，小鹏汽车应付贸易款项为306.87亿元，较2024年底增加32.96%，增速位居16家车企之首，其增长与公司收入快速增长有关。</p><p>具体来看，2025年上半年，公司期末应付账款达到169.59亿元，和2024年年末的151.82亿元相比，增加约11.71%。</p><p>从应付账款的账龄结构来看，3至6个月账龄比例大幅增加，由2024年年末的3.28亿元增长至2025年上半年的10.27亿元，增长约213.63%。0至3个月账龄比例增长约7.24%，由2024年年末的143.78亿元增加至今年上半年的154.19亿元。</p><p>应付票据总量亦大幅增加。2025年上半年，小鹏汽车应付银行承兑票据为137.28亿元，较2024年年末的78.99亿元增长约78.8%。</p><p>结构方面，从应付票据按照账龄分析，0至3个月账龄为87.85亿元，较2024年年末的54.48亿元增长约61.26%；3至6个月账龄为49.43亿元，较2024年年末的24.51亿元增长约101.67%。</p><p>小鹏汽车称，供应商一般授予公司0至60日的信贷期。但从上述账龄数据来看，公司应付账款账龄以0至3个月居多，而3至6个月的应付贸易款项增幅最大。</p><p>针对小鹏汽车应收分期付款坏账拨备、供应链资金占用等情况，记者9月23日致函小鹏汽车，至记者发稿，公司尚未回复。</p><p>展望2025年第三季度，小鹏汽车汽车交付量预计为11.3万辆至11.8万辆，按年增加约142.8%至153.6%。总收入预计为196亿元至210亿元，按年增加约94.0%至107.9%。（记者 郭新志 实习记者 李子莘）</p>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>信用销售规模暴增 小鹏汽车巨额客户按揭尾款存减值风险</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n信用销售规模暴增 小鹏汽车巨额客户按揭尾款存减值风险\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-30 10:45 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250930104843954d6249&s=b><strong>中国能源网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>自从两年前原长城汽车（601633.SH，02333.HK）副董事长、总裁王凤英出任小鹏汽车（09868.HK）联席总裁后，其主导的渠道变革、成本管控取得了一定效果——小鹏汽车9月22日披露的中期报告显示，公司汽车产品销量、营业收入同比均大幅增长，当期亏损大幅收窄，但累计亏损扩大至427.44亿元。《经济参考报》记者注意到，小鹏汽车从2023年启动“木星计划”至今年上半年，直营店占比已由早期的约...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250930104843954d6249&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4555":"新能源车","BK4551":"寇图资本持仓","BK4099":"汽车制造商","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4526":"热门中概股","XPEV":"小鹏汽车","BK4505":"高瓴资本持仓"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250930104843954d6249&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2571696399","content_text":"自从两年前原长城汽车（601633.SH，02333.HK）副董事长、总裁王凤英出任小鹏汽车（09868.HK）联席总裁后，其主导的渠道变革、成本管控取得了一定效果——小鹏汽车9月22日披露的中期报告显示，公司汽车产品销量、营业收入同比均大幅增长，当期亏损大幅收窄，但累计亏损扩大至427.44亿元。《经济参考报》记者注意到，小鹏汽车从2023年启动“木星计划”至今年上半年，直营店占比已由早期的约70%下降至目前的约30%。借助“渠道变革+信用销售”，公司汽车销量实现“逆袭”，应收款项结构大变，应收分期付款余额增长至72.55亿元。“投资者在分析小鹏汽车应收账款的同时，要高度注意公司不断增加的应收分期付款规模及坏账计提情况”，9月23日，知名财税审专家刘志耕在接受《经济参考报》记者采访时表示，由于预期信用损失风险的计算模型存在一定的主观空间，可能成为公司利润调节工具。受宏观经济波动及行业周期等因素影响，这些规模庞大的分期付款违约率可能上升，公司需建立压力测试模型，评估不同经济场景下的风险敞口。应收分期付款规模跳跃式增长中报显示，今年上半年，小鹏汽车实现总收入340.9亿元，同比增长132.5%，归属于公司普通股股东的净利润为-11.4亿元，较去年同期的-26.53亿元大幅收窄。尽管如此，小鹏汽车的累计亏损扩大至427.44亿元。上半年公司业绩改善源于汽车交付量增加。今年上半年，小鹏汽车交付量约为19.72万辆，同比增加279%。7月份总交付量约为3.67万辆，前7月累计交付量约为23.39万辆。小鹏汽车预计第三季度总收入在196亿元至210亿元之间，同比增长约94%至107.9%。收入大增，赊销功不可没。小鹏汽车在财报中将应收账款与应收分期付款分开进行列报。其中，应收账款及票据指在正常销售汽车过程中，应收大批量购车者的款项，以及代客户收取的政府补贴款项。应收分期付款主要包括公司应收客户的汽车或电池分期付款的应收款项总额。截至今年6月底，小鹏汽车应收账款和票据净额合计17.64亿元，较2025年年初减少27.97%。不过，公司期末应收分期付款的流动部分净额为26.71亿元，较2025年年初增加4.40%，应收分期付款的非流动部分净额为45.84亿元，较2024年年末增加1.78%，两项合计72.55亿元，较2024年年末增加2.26%。小鹏汽车应收款结构之所以出现“一增一减”的变化，与公司销售模式变化有关。2023年1月，王凤英出任小鹏汽车总裁后主抓两件事：销售渠道整合和成本管控。截至2022年底，小鹏汽车在中国大陆共有420家门店，其中：直营门店294家（占比约70%）、经销商门店126家（占比约30%），公司2022年汽车总销量为12.08万辆。2023年、2024年汽车总销量分别为14.16万辆、19万辆，今年上半年增加到19.72万辆，超过去年全年交付量。截至今年6月底，小鹏汽车在中国内地共有677家门店，其中经销商门店约474家，直营门店约203家。记者注意到，小鹏汽车近年来推出了不少类似“零首付购车”的杠杆购车活动。这些活动在刺激销售的同时，也使得小鹏汽车对客户的应收分期付款规模持续增长。财报显示，2022年、2023年、2024年及2025年上半年，小鹏汽车应收分期付款期末账面值分别为35.71亿元、50.31亿元、70.95亿元及73.46亿元，呈现出跳跃式增长态势，对应当期坏账计提金额分别为0.88亿元、1.22亿元、0.88亿元及0.90亿元，坏账计提比例分别为2.46%、2.42%、1.24%及1.23%，坏账计提比例呈现不断下滑趋势。无论是坏账计提金额还是计提比例均与应收分期支付款规模走势相悖。小鹏汽车近年来应收分期付款及坏账计提情况 （单位/亿元）资料来源：公司公告 制表：郭新志小鹏汽车没有解释应收分期付款暴增的具体原因。公司称，公司应收账款主要包括代表客户向政府领取的与政府补贴有关的车辆销售金额及向大批量客户在常规业务中的车辆销售金额。向个人客户的销售通常通过客户的垫款作出。向大批量买方的销售按介乎30至60日的信用期作出。占用供应链资金状况有待改善近年来，车企利用自身地位占用供应商资金现象突出，引发社会广泛关注。《保障中小企业款项支付条例》修订版自今年6月1日起正式实施，众多车企纷纷承诺“60天账期”。9月15日，中国汽车工业协会就“整车企业供应商账款支付规范”发出倡议。倡导整车企业支付账期自供应商企业交货并通过整车企业验收合格之日起计算，最长不超过60个自然日（如支付当日遇法定节假日顺延）。应付贸易款项是观察上市车企占用供应商贸易款项的重要评估指标。同花顺iFinD数据显示，今年上半年，纳入统计范围的16家上市乘用车企业（A股+H股）的应付账款和应付票据（以下简称“应付贸易款项”）合计0.95万亿元，较2024年年末减少6.21%，其中，13家车企的应付贸易款项呈现下降趋势，表明车企占用供应商资金的情况整体有所缓解。财报显示，截至今年6月30日，小鹏汽车应付贸易款项为306.87亿元，较2024年底增加32.96%，增速位居16家车企之首，其增长与公司收入快速增长有关。具体来看，2025年上半年，公司期末应付账款达到169.59亿元，和2024年年末的151.82亿元相比，增加约11.71%。从应付账款的账龄结构来看，3至6个月账龄比例大幅增加，由2024年年末的3.28亿元增长至2025年上半年的10.27亿元，增长约213.63%。0至3个月账龄比例增长约7.24%，由2024年年末的143.78亿元增加至今年上半年的154.19亿元。应付票据总量亦大幅增加。2025年上半年，小鹏汽车应付银行承兑票据为137.28亿元，较2024年年末的78.99亿元增长约78.8%。结构方面，从应付票据按照账龄分析，0至3个月账龄为87.85亿元，较2024年年末的54.48亿元增长约61.26%；3至6个月账龄为49.43亿元，较2024年年末的24.51亿元增长约101.67%。小鹏汽车称，供应商一般授予公司0至60日的信贷期。但从上述账龄数据来看，公司应付账款账龄以0至3个月居多，而3至6个月的应付贸易款项增幅最大。针对小鹏汽车应收分期付款坏账拨备、供应链资金占用等情况，记者9月23日致函小鹏汽车，至记者发稿，公司尚未回复。展望2025年第三季度，小鹏汽车汽车交付量预计为11.3万辆至11.8万辆，按年增加约142.8%至153.6%。总收入预计为196亿元至210亿元，按年增加约94.0%至107.9%。（记者 郭新志 实习记者 李子莘）","news_type":1,"symbols_score_info":{"XPEV":1.5,"EVS.SI":0.6}},"isVote":1,"tweetType":1,"viewCount":1244,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":478183552623312,"gmtCreate":1757754159564,"gmtModify":1757754997285,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"曹操就一个垃圾公司&nbsp;","listText":"曹操就一个垃圾公司&nbsp;","text":"曹操就一个垃圾公司","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/478183552623312","repostId":"1176676918","repostType":2,"repost":{"id":"1176676918","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1757669850,"share":"https://www.laohu8.com/m/news/1176676918?lang=zh_CN&edition=full","pubTime":"2025-09-12 17:37","market":"hk","language":"zh","title":"一周港股牛熊榜 | 周内狂飙56%！云锋金融解锁虚拟资产新赛道；“入通新贵”表现不佳，曹操出行周跌25%","url":"https://stock-news.laohu8.com/highlight/detail?id=1176676918","media":"老虎资讯综合","summary":"碧桂园本周累升37.50%，一线城市陆续出台地产新政；映恩生物-B本周累升24.06%，进入港股通有望获内资追捧；基石药业-B本周跌18.90%，消息称美国拟加强审查中国创新药+股东减持。","content":"<html><head></head><body><ul style=\"\"><li><p>总结全周（9月8日-9月12日） <a href=\"https://laohu8.com/S/HSI\">恒生指数</a> 涨3.82%报26388.16点， <a href=\"https://laohu8.com/S/HSTECH\">恒生科技指数</a> 涨5.31%报5989.27点；</p></li></ul><ul style=\"\"><li><p>本周市值百亿以上、日均成交千万以上表现最好五只股票是 <a href=\"https://laohu8.com/S/00376\">云锋金融</a> 、<a href=\"https://laohu8.com/S/02007\">碧桂园</a> 、<a href=\"https://laohu8.com/S/09606\">映恩生物-B</a> 、<a href=\"https://laohu8.com/S/01385\">上海复旦</a> 、<a href=\"https://laohu8.com/S/09966\">康宁杰瑞制药-B</a> ；</p></li><li><p>表现最差的五只股票是 <a href=\"https://laohu8.com/S/02643\">曹操出行</a> 、<a href=\"https://laohu8.com/S/09678\">云知声</a> 、<a href=\"https://laohu8.com/S/02616\">基石药业-B</a> 、<a href=\"https://laohu8.com/S/01672\">歌礼制药-B</a> 、<a href=\"https://laohu8.com/S/01799\">新特能源</a> 。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c995e1051f4e786ce1bd572be567e7d6\" title=\"\" tg-width=\"1080\" tg-height=\"1715\"/></p><h2 id=\"id_685931678\">一、涨幅居前个股解析</h2><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/00376\">云锋金融</a></strong> <strong>（0376.HK ）本周累升56.38%，获批提供虚拟资产交易服务</strong></p></li></ul><p>云锋金融日前发布公告称，旗下全资证券子公司云锋证券有限公司正式获得香港证监会批准，现有证券交易牌照(一号牌)将升级为可提供虚拟资产交易服务。此次升级后，云锋金融将可为零售及专业投资者提供虚拟资产交易服务，客户可在云锋金融的交易平台直接交易数字资产(如比特币、以太币等)。</p><p>此前9月2日，云锋金融公布，董事会已批准在公开市场购买ETH作为公司储备资产。集团已累计购入1万枚ETH，总投资金额为4400万美元(含费用及开支)，资金全部来自集团内部现金储备。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/02007\">碧桂园</a></strong> <strong>（2007.HK ）本周累升37.50%，一线城市陆续出台地产新政</strong></p></li></ul><p>9月5日深圳出台楼市新政，对住房限购政策、住房信贷政策进行调整。中信建投指出，本次楼市新政，对非核心区域限购进行了大力度放松，同时商贷利率不再区分首套房与二套房。从限购放松的力度对比，深圳此次新政力度大于8月出台新政的北京和上海。参考北京和上海新政后的市场表现，此次新政有望为深圳楼市量价提供支撑。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/09606\">映恩生物-B</a> （9606.HK ）本周累升24.06%，进入港股通有望获内资追捧</strong></p></li></ul><p>映恩生物发布公告，自2025年9月8日起，公司股份将获恒生指数有限公司纳入恒生综合指数成份股及被调入沪港通下港股通标的名单。</p><p>公告表示，股份获纳入恒生综合指数及沪港通合资格证券，代表资本市场对公司表现及价值的高度认同，中国内地合资格投资者从而可以透过上交所直接投资于香港联交所上市的股份。预期该项纳入将进一步扩大公司的投资者基础，并有望增加股份的交易流通量。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/09966\">康宁杰瑞制药-B</a></strong> <strong>（9966.HK）本周累升20.43%，KN026新药上市申请获国家药监局受理</strong></p></li></ul><p>康宁杰瑞制药-B公告，公司与石药集团有限公司附属公司上海津曼特生物科技有限公司合作开发的KN026联合化疗用于治疗至少接受过一种系统性治疗失败的人表皮生长因子受体2阳性局部晚期、复发或转移性胃╱胃-食管结合部腺癌患者的新药上市申请，已获中华人民共和国国家药品监督管理局受理。</p><p>目前，HER2+胃癌二线治疗尚无获批上市的抗HER2药物，KN026是中国首个在胃癌二线治疗中获得阳性结果的抗HER2双特异性抗体药物。</p><h2 id=\"id_3980243290\">二、跌幅居前个股解析</h2><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/02643\">曹操出行</a> （2643.HK ）本周下跌25.64%，本周纳入港股通股价表现不佳</strong></p></li></ul><p>自今年6月25日在香港交易所主板上市以来，曹操出行在不足三个月时间内成功跻身港股通，标志着其资本化进程再获关键突破。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/02616\">基石药业-B</a>（2616.HK）本周跌18.90%，消息称美国拟加强审查中国创新药+股东减持</strong></p></li></ul><p>《纽约时报》消息称，美国总统特朗普的政府正讨论限制中国药品，并草拟一份行政命令(EO)，旨在通过多项措施限制中国原创新药进入美国市场。高盛最新报吿认为，这将为中国生物科技/医药板块带来“标题风险”(headline risk)，并加剧股价波动，需继续密切关注特朗普政府未来数月的医药政策动向。</p><p>个股方面，联交所最新权益披露资料显示，基石药业于9月5日遭非执行董事胡正国在场内以每股均价12.007港元减持22.3万股，涉资约267.8万港元。减持后，其持股比例由0.18%下降至0.17%。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/01799\">新特能源</a></strong> <strong>（1799.HK）本周下跌14.71%，本周多晶硅期货走低</strong></p></li></ul><p>本周交易日多晶硅跳水。南华期货表示，当前关注本周三硅业大会。近期小作文很多，工业硅和多晶硅或受小作文影响，近期暂无较好策略，以震荡看待。需特别注意的是，多晶硅市场对消息面敏感度较高，产业链上下游动态等消息均可能引发行情大幅波动，短期内需警惕消息刺激导致的价格异动风险。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>一周港股牛熊榜 | 周内狂飙56%！云锋金融解锁虚拟资产新赛道；“入通新贵”表现不佳，曹操出行周跌25%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n一周港股牛熊榜 | 周内狂飙56%！云锋金融解锁虚拟资产新赛道；“入通新贵”表现不佳，曹操出行周跌25%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2025-09-12 17:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul style=\"\"><li><p>总结全周（9月8日-9月12日） <a href=\"https://laohu8.com/S/HSI\">恒生指数</a> 涨3.82%报26388.16点， <a href=\"https://laohu8.com/S/HSTECH\">恒生科技指数</a> 涨5.31%报5989.27点；</p></li></ul><ul style=\"\"><li><p>本周市值百亿以上、日均成交千万以上表现最好五只股票是 <a href=\"https://laohu8.com/S/00376\">云锋金融</a> 、<a href=\"https://laohu8.com/S/02007\">碧桂园</a> 、<a href=\"https://laohu8.com/S/09606\">映恩生物-B</a> 、<a href=\"https://laohu8.com/S/01385\">上海复旦</a> 、<a href=\"https://laohu8.com/S/09966\">康宁杰瑞制药-B</a> ；</p></li><li><p>表现最差的五只股票是 <a href=\"https://laohu8.com/S/02643\">曹操出行</a> 、<a href=\"https://laohu8.com/S/09678\">云知声</a> 、<a href=\"https://laohu8.com/S/02616\">基石药业-B</a> 、<a href=\"https://laohu8.com/S/01672\">歌礼制药-B</a> 、<a href=\"https://laohu8.com/S/01799\">新特能源</a> 。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c995e1051f4e786ce1bd572be567e7d6\" title=\"\" tg-width=\"1080\" tg-height=\"1715\"/></p><h2 id=\"id_685931678\">一、涨幅居前个股解析</h2><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/00376\">云锋金融</a></strong> <strong>（0376.HK ）本周累升56.38%，获批提供虚拟资产交易服务</strong></p></li></ul><p>云锋金融日前发布公告称，旗下全资证券子公司云锋证券有限公司正式获得香港证监会批准，现有证券交易牌照(一号牌)将升级为可提供虚拟资产交易服务。此次升级后，云锋金融将可为零售及专业投资者提供虚拟资产交易服务，客户可在云锋金融的交易平台直接交易数字资产(如比特币、以太币等)。</p><p>此前9月2日，云锋金融公布，董事会已批准在公开市场购买ETH作为公司储备资产。集团已累计购入1万枚ETH，总投资金额为4400万美元(含费用及开支)，资金全部来自集团内部现金储备。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/02007\">碧桂园</a></strong> <strong>（2007.HK ）本周累升37.50%，一线城市陆续出台地产新政</strong></p></li></ul><p>9月5日深圳出台楼市新政，对住房限购政策、住房信贷政策进行调整。中信建投指出，本次楼市新政，对非核心区域限购进行了大力度放松，同时商贷利率不再区分首套房与二套房。从限购放松的力度对比，深圳此次新政力度大于8月出台新政的北京和上海。参考北京和上海新政后的市场表现，此次新政有望为深圳楼市量价提供支撑。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/09606\">映恩生物-B</a> （9606.HK ）本周累升24.06%，进入港股通有望获内资追捧</strong></p></li></ul><p>映恩生物发布公告，自2025年9月8日起，公司股份将获恒生指数有限公司纳入恒生综合指数成份股及被调入沪港通下港股通标的名单。</p><p>公告表示，股份获纳入恒生综合指数及沪港通合资格证券，代表资本市场对公司表现及价值的高度认同，中国内地合资格投资者从而可以透过上交所直接投资于香港联交所上市的股份。预期该项纳入将进一步扩大公司的投资者基础，并有望增加股份的交易流通量。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/09966\">康宁杰瑞制药-B</a></strong> <strong>（9966.HK）本周累升20.43%，KN026新药上市申请获国家药监局受理</strong></p></li></ul><p>康宁杰瑞制药-B公告，公司与石药集团有限公司附属公司上海津曼特生物科技有限公司合作开发的KN026联合化疗用于治疗至少接受过一种系统性治疗失败的人表皮生长因子受体2阳性局部晚期、复发或转移性胃╱胃-食管结合部腺癌患者的新药上市申请，已获中华人民共和国国家药品监督管理局受理。</p><p>目前，HER2+胃癌二线治疗尚无获批上市的抗HER2药物，KN026是中国首个在胃癌二线治疗中获得阳性结果的抗HER2双特异性抗体药物。</p><h2 id=\"id_3980243290\">二、跌幅居前个股解析</h2><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/02643\">曹操出行</a> （2643.HK ）本周下跌25.64%，本周纳入港股通股价表现不佳</strong></p></li></ul><p>自今年6月25日在香港交易所主板上市以来，曹操出行在不足三个月时间内成功跻身港股通，标志着其资本化进程再获关键突破。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/02616\">基石药业-B</a>（2616.HK）本周跌18.90%，消息称美国拟加强审查中国创新药+股东减持</strong></p></li></ul><p>《纽约时报》消息称，美国总统特朗普的政府正讨论限制中国药品，并草拟一份行政命令(EO)，旨在通过多项措施限制中国原创新药进入美国市场。高盛最新报吿认为，这将为中国生物科技/医药板块带来“标题风险”(headline risk)，并加剧股价波动，需继续密切关注特朗普政府未来数月的医药政策动向。</p><p>个股方面，联交所最新权益披露资料显示，基石药业于9月5日遭非执行董事胡正国在场内以每股均价12.007港元减持22.3万股，涉资约267.8万港元。减持后，其持股比例由0.18%下降至0.17%。</p><ul style=\"\"><li><p><strong><a href=\"https://laohu8.com/S/01799\">新特能源</a></strong> <strong>（1799.HK）本周下跌14.71%，本周多晶硅期货走低</strong></p></li></ul><p>本周交易日多晶硅跳水。南华期货表示，当前关注本周三硅业大会。近期小作文很多，工业硅和多晶硅或受小作文影响，近期暂无较好策略，以震荡看待。需特别注意的是，多晶硅市场对消息面敏感度较高，产业链上下游动态等消息均可能引发行情大幅波动，短期内需警惕消息刺激导致的价格异动风险。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/549ed9c19f16d97443cb9ffadc6a6514","relate_stocks":{"00376":"云锋金融","02616":"基石药业-B","01799":"新特能源","HSCEI":"国企指数","01672":"歌礼制药-B","02007":"碧桂园","09678":"云知声","HSTECH":"恒生科技指数","HSI":"恒生指数","09606":"映恩生物-B","02643":"曹操出行","09966":"康宁杰瑞制药-B","01385":"上海复旦"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176676918","content_text":"总结全周（9月8日-9月12日） 恒生指数 涨3.82%报26388.16点， 恒生科技指数 涨5.31%报5989.27点；本周市值百亿以上、日均成交千万以上表现最好五只股票是 云锋金融 、碧桂园 、映恩生物-B 、上海复旦 、康宁杰瑞制药-B ；表现最差的五只股票是 曹操出行 、云知声 、基石药业-B 、歌礼制药-B 、新特能源 。一、涨幅居前个股解析云锋金融 （0376.HK ）本周累升56.38%，获批提供虚拟资产交易服务云锋金融日前发布公告称，旗下全资证券子公司云锋证券有限公司正式获得香港证监会批准，现有证券交易牌照(一号牌)将升级为可提供虚拟资产交易服务。此次升级后，云锋金融将可为零售及专业投资者提供虚拟资产交易服务，客户可在云锋金融的交易平台直接交易数字资产(如比特币、以太币等)。此前9月2日，云锋金融公布，董事会已批准在公开市场购买ETH作为公司储备资产。集团已累计购入1万枚ETH，总投资金额为4400万美元(含费用及开支)，资金全部来自集团内部现金储备。碧桂园 （2007.HK ）本周累升37.50%，一线城市陆续出台地产新政9月5日深圳出台楼市新政，对住房限购政策、住房信贷政策进行调整。中信建投指出，本次楼市新政，对非核心区域限购进行了大力度放松，同时商贷利率不再区分首套房与二套房。从限购放松的力度对比，深圳此次新政力度大于8月出台新政的北京和上海。参考北京和上海新政后的市场表现，此次新政有望为深圳楼市量价提供支撑。映恩生物-B （9606.HK ）本周累升24.06%，进入港股通有望获内资追捧映恩生物发布公告，自2025年9月8日起，公司股份将获恒生指数有限公司纳入恒生综合指数成份股及被调入沪港通下港股通标的名单。公告表示，股份获纳入恒生综合指数及沪港通合资格证券，代表资本市场对公司表现及价值的高度认同，中国内地合资格投资者从而可以透过上交所直接投资于香港联交所上市的股份。预期该项纳入将进一步扩大公司的投资者基础，并有望增加股份的交易流通量。康宁杰瑞制药-B （9966.HK）本周累升20.43%，KN026新药上市申请获国家药监局受理康宁杰瑞制药-B公告，公司与石药集团有限公司附属公司上海津曼特生物科技有限公司合作开发的KN026联合化疗用于治疗至少接受过一种系统性治疗失败的人表皮生长因子受体2阳性局部晚期、复发或转移性胃╱胃-食管结合部腺癌患者的新药上市申请，已获中华人民共和国国家药品监督管理局受理。目前，HER2+胃癌二线治疗尚无获批上市的抗HER2药物，KN026是中国首个在胃癌二线治疗中获得阳性结果的抗HER2双特异性抗体药物。二、跌幅居前个股解析曹操出行 （2643.HK ）本周下跌25.64%，本周纳入港股通股价表现不佳自今年6月25日在香港交易所主板上市以来，曹操出行在不足三个月时间内成功跻身港股通，标志着其资本化进程再获关键突破。基石药业-B（2616.HK）本周跌18.90%，消息称美国拟加强审查中国创新药+股东减持《纽约时报》消息称，美国总统特朗普的政府正讨论限制中国药品，并草拟一份行政命令(EO)，旨在通过多项措施限制中国原创新药进入美国市场。高盛最新报吿认为，这将为中国生物科技/医药板块带来“标题风险”(headline risk)，并加剧股价波动，需继续密切关注特朗普政府未来数月的医药政策动向。个股方面，联交所最新权益披露资料显示，基石药业于9月5日遭非执行董事胡正国在场内以每股均价12.007港元减持22.3万股，涉资约267.8万港元。减持后，其持股比例由0.18%下降至0.17%。新特能源 （1799.HK）本周下跌14.71%，本周多晶硅期货走低本周交易日多晶硅跳水。南华期货表示，当前关注本周三硅业大会。近期小作文很多，工业硅和多晶硅或受小作文影响，近期暂无较好策略，以震荡看待。需特别注意的是，多晶硅市场对消息面敏感度较高，产业链上下游动态等消息均可能引发行情大幅波动，短期内需警惕消息刺激导致的价格异动风险。","news_type":1,"symbols_score_info":{"01672":1.1,"HSCEI":1.1,"01385":1.1,"01799":1.1,"02643":1.1,"09678":1.1,"HSI":1.1,"09966":1.1,"09606":1.1,"02007":1.1,"00376":1.1,"02616":1.1,"HSTECH":1.1}},"isVote":1,"tweetType":1,"viewCount":1714,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":407111131398816,"gmtCreate":1740410820826,"gmtModify":1740410822805,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"诈骗界面很优秀 人民法院与资本心连心[开心]&nbsp; [开心]&nbsp;&nbsp;","listText":"诈骗界面很优秀 人民法院与资本心连心[开心]&nbsp; [开心]&nbsp;&nbsp;","text":"诈骗界面很优秀 人民法院与资本心连心[开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/407111131398816","repostId":"2512129786","repostType":2,"repost":{"id":"2512129786","kind":"news","pubTimestamp":1739946180,"share":"https://www.laohu8.com/m/news/2512129786?lang=zh_CN&edition=full","pubTime":"2025-02-19 14:23","market":"fut","language":"zh","title":"携程系几个关于机票套餐的法院判例","url":"https://stock-news.laohu8.com/highlight/detail?id=2512129786","media":"市场资讯","summary":"　　24年11月19日，携程公布了去年第三季度的财报，财报显示第三季度携程营收为159亿，其中交通票务营收为57亿，占营收的比为35.8%。　　判决书显示，消费者张某于2023年9月在携程购买了一张从上海飞往广州的机票，共支付880元。　　该案件的被告称，消费者购买的是套餐产品，其所支付费用系针对套餐整体而言的费用，并非仅针对机票部分的价值。法院同样判消费者败诉。","content":"<html><body><div>\n<p> 专题：《5D调查》315消费者守护计划</p>\n<p>　　来源：YOUNG财经 漾财经</p>\n<div><img src=\"http://n.sinaimg.cn/finance/crawl/44/w550h294/20250219/069e-fdc1c68738208b560791e7016770968a.jpg\"/><span>资料图。</span></div>\n<p cms-style=\"font-L strong-Bold align-Center\">　　<font cms-style=\"font-L strong-Bold align-Center color240\">携程系几个关于机票套餐的法院判例</font></p>\n<p cms-style=\"font-L align-Center strong-Bold\">　　樊博</p>\n<p cms-style=\"font-L\">　　24年11月19日，携程公布了去年第三季度的财报，财报显示第三季度携程营收为159亿，其中交通票务营收为57亿，占营收的比为35.8%。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">值得注意的是，携程交通票务收入来自包括携程、去哪儿、智行在内的多家OTA线上平台。这些收入中，</font><font cms-style=\"font-L\">其中一部分来自于销售机票、火车票的佣金，另一部分则是销售</font><font cms-style=\"font-L\">的旅游套餐增值服务。</font></p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L strong-Bold color240\">几个携程系判决案例中的旅行套餐</font></p>\n<p cms-style=\"font-L\">　　从裁判文书网中的几个案例，我们可以一窥旅游套餐增值服务给携程系带来了不少的利润。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">2024年6月，上海市长宁</font><font cms-style=\"font-L\">人民法院对外曾发布一份判决书【（</font><font cms-style=\"font-L\">2024</font><font cms-style=\"font-L\">）沪</font><font cms-style=\"font-L\">0105</font><font cms-style=\"font-L\">民初</font><font cms-style=\"font-L\">1151</font><font cms-style=\"font-L\">号】。</font></p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">判决书显示，消费者张某于2023年9月在</font><font cms-style=\"font-L color240\"><font cms-style=\"font-L strong-Bold color240\"><font cms-style=\"font-L strong-Bold color240\">携程</font></font></font><font cms-style=\"font-L\">购买了一张从上海飞往广州的机票，共支付880元。随后，消费者张某通过航旅纵横查询发现，该机票的实际价格为798元。他认为，他支付的实际机票价格与<a href=\"https://laohu8.com/S/TCOM\">携程网</a>收取价格间存在差距，所以携程构成价格欺诈。</font></p>\n<p cms-style=\"font-L\">　　该案件的被告称，消费者购买的是套餐产品，其所支付费用系针对套餐整体而言的费用，并非仅针对机票部分的价值。</p>\n<p cms-style=\"font-L\">　　并称在消费者购买套餐产品过程中，被告对套餐产品的属性、内容、价格构成进行了充分的告知，不存在误导或欺诈行为。被告在预订过程中、付款前等多个环节，均清晰、无遗漏地向原告告知了套餐产品的内容、价格构成，同时也提供了除套餐产品以外的其他价格选项供原告自行选择，并不存在任何隐瞒或虚假宣传的欺诈情形。</p>\n<p cms-style=\"font-L\">　　同时强调，机票与其他产品组合的套餐产品，为行业内常见的产品销售形式。被告销售涉案的套餐产品不违反强制性法律规定、且符合行业惯例。</p>\n<p cms-style=\"font-L\">　　判决书显示，套餐中包含的优惠券分为租车券（满300减78，满600减158，满2000减400，满5000减600）、门票券（满500减20）、一日游券：满400减50，满1000减200，满2000减300。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">法院认为，</font><font cms-style=\"font-L color240\"><font cms-style=\"font-L strong-Bold color240\">携程</font></font><font cms-style=\"font-L\">在向消费者提供预订服务时，分别在机票预订页面、产品说明页面、订单填写页面及支付明细页面多次以加粗、亮色字体等方式向原告展示涉案预订服务系旅游专享套餐产品及产品所包含的内容和对应价格，其他相关产品中也显示了机票价格，因此认定携程已尽到显著提示与告知义务，不存在故意隐瞒真实情况的行为。消费者最终败诉。</font></p>\n<p cms-style=\"font-L\">　　去哪儿同样如此，靠着向消费者售卖旅行套餐，获利不少。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">北京互联网法院发布的（2024）京0491民初15405号显示，消费者孟某于2024年7月在</font><font cms-style=\"font-L color240\"><font cms-style=\"font-L strong-Bold color240\"><font cms-style=\"font-L strong-Bold color240\"><a href=\"https://laohu8.com/S/QUNR\">去哪儿网</a></font></font></font><font cms-style=\"font-L\">购买了武汉飞往乌鲁木齐的机票，共支付1789元，但随后孟某发现航空公司开具的行程单显示，该机票的价格为1680元，便向去哪儿网投诉。</font></p>\n<p cms-style=\"font-L\">　　去哪儿表示可以退还109元的差价，并称差价来源于旅行套餐券，消费者孟某称，他购买机票时，选择的订购项是此航班最低价格，并未额外花钱购买套餐。也从未勾选套餐，系商家捆绑销售，被告的购票页面没有清楚显示单张机票价格和套餐券价格的分项明细，没有给出取消附加套餐券的机票价格选项，旅行套餐券属于强制附加在机票订单里的赠送券，原告并不知情购买的机票包含旅行套餐券且未使用套餐里的任何优惠券。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">但法院认为，</font><font cms-style=\"font-L color240\"><font cms-style=\"font-L strong-Bold color240\">去哪儿</font></font><font cms-style=\"font-L\">在机票销售流程的多个页面对涉案产品属于旅行套餐进行标注，并对涉案产品的销售规则和销售方名称进行了展示说明。因此该消费者同样败诉。</font></p>\n<p cms-style=\"font-L\">　　智行也提供同样的产品。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">根据（2024）沪0105民初25081号判决书显示，消费者范某于2024年4月在</font><font cms-style=\"font-L color240\"><font cms-style=\"font-L strong-Bold color240\">智行</font></font><font cms-style=\"font-L\">购买了一张从杭州飞往沈阳的机票，花费1166元，后行程单显示该机票含税的实际费用为910元，出票方称，1、消费者购买的是套餐产品，所支付的费用是套餐产品整体费用，非单机票预订费；2、机票+优惠券的套餐产品属于行业惯例，不违反任何强制性规定；3、被告去走走公司作为案涉机票预订套餐的实际服务提供方，收到被告蒜芽公司结算款1，140元，已完成出票义务，且机票已经使用完毕；4、考虑用户体验，且用户并未使用套餐内优惠券，被告去走走公司（携程系公司）自愿补偿226元。法院同样判消费者败诉。</font></p>\n<p cms-style=\"font-L\">　　三个案例中，携程、去哪儿、智行共收取两份费用，一边从航空公司获得了机票实际售价的提成，另一边从消费者处获得了旅行券包的费用。其中携程案例中，券包价值为82元；去哪儿案例中，券包价值为109元；智行案例中，券包的价值为226元。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L strong-Bold color240\">收费不一的优惠券价格</font></p>\n<p cms-style=\"font-L\">　　在这三个判例中，法院都认为平台给了消费者套餐产品以外不同的选择，并且明确标注了套餐字样。因此三位消费者最终都败诉了。</p>\n<p cms-style=\"font-L\">　　但三个平台都没能清楚标明套餐中所附带的旅游券包价值多少。</p>\n<p cms-style=\"font-L\">　　上述携程案例中，张某购买的包括租车券、门票券和一日游券在内的优惠券，价值为82元。而在（2023）沪0105民初38520号判例中，消费者王某在携程购买了一张从兰州飞往昆明的机票，支付了1876元，却发现行程单显示总票价为1770元，携程同样称消费者购买的为旅游专享套餐。该套餐除了机票，还包括了包括租车券、门票券和一日游券在内的优惠券。优惠券与张某购买的的一模一样。这中间的差价为106元，因此这些优惠券的价值为106元。</p>\n<p cms-style=\"font-L\">　　去哪儿同样如此，不同的消费者购买的旅游套餐中包含的是同样的优惠券，但所付出的费用却不同。</p>\n<p cms-style=\"font-L\">　　一位从咸阳飞往乌鲁木齐的消费者，他的去哪儿订单显示，他购买的旅行套餐为420元，但行程单显示他购买的机票实际价格为400元，因此他购买的券包价值为20元。</p>\n<p cms-style=\"font-L\">　　而另一位从沈阳飞往太原的消费者，他的去哪儿订单显示，他购买的旅行套餐价格为292元，航空公司给他开的发票却显示，机票价格为0元。</p>\n<p cms-style=\"font-L\">　　但去哪儿向这两位消费者销售的券包是一样的，都包含一张9.7折度假券、一张购物享免税价券、一张接送机满减券和一张8.5折租车券。</p>\n<div><img src=\"http://n.sinaimg.cn/finance/crawl/343/w550h593/20250219/ce52-dde601c121f338a54c26c28cf03fa70b.jpg\"/><span></span></div>\n<p cms-style=\"font-L\">　　左图为咸阳飞往乌鲁木齐消费者购买的优惠券，其中航空意外险为额外购买，并不包含在券包内；右图为沈阳飞往太原消费者购买的优惠券。</p>\n<p cms-style=\"font-L\">　　同样产品不同价格这一现象，同样出现在智行机票平台上。</p>\n<p cms-style=\"font-L\">　　一位从北京飞往杭州的智行机票消费者表示，她共花费了1375元购买机票。智行平台起初为她出了一张1380元的机票（航旅纵横查询显示），随后又将这张机票退票，为她购买了一张920元的同航班机票。她购买的旅行套餐中，除了机票外，还包含了4张50元的酒店满减券，4张200元门票满减券。这些优惠券的价值为455元。</p>\n<p cms-style=\"font-L\">　　另一位购买厦门飞往上海的智行机票消费者，花费了818元购买机票套餐。她同样遭遇了智行平台的退票，最终购买的机票，航旅纵横显示含税价为730元。她购买的旅行套餐中，同样包含了上述酒店满减券以及门票满减券。对于该消费者，这些优惠券的价值为88元。</p>\n<div><img src=\"http://n.sinaimg.cn/finance/crawl/145/w550h395/20250219/ddd7-9a02d7a54105f40ffbb8cb81871ddf72.png\"/><span></span></div>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">从上面所列举的每单个判决案例来看，法院的意见是每个消费者都需要为自己的消费行为负责。但若是将这些案例放在一起，在支付给购票平台与航空公司实际收取的费用之间所存在的差距，似乎应该进一步分析其中原因。</font><font cms-style=\"font-L color240\">■</font></p>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读，尽在新浪财经APP</div>\n</div>\n<p>责任编辑：李昂 </p>\n</div></body></html>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>携程系几个关于机票套餐的法院判例</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n携程系几个关于机票套餐的法院判例\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-02-19 14:23 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/consume/puguangtai/2025-02-19/doc-inekyxsf3088214.shtml><strong>市场资讯</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>专题：《5D调查》315消费者守护计划\n　　来源：YOUNG财经 漾财经\n资料图。\n　　携程系几个关于机票套餐的法院判例\n　　樊博\n　　24年11月19日，携程公布了去年第三季度的财报，财报显示第三季度携程营收为159亿，其中交通票务营收为57亿，占营收的比为35.8%。\n　　值得注意的是，携程交通票务收入来自包括携程、去哪儿、智行在内的多家OTA线上平台。这些收入中，其中一部分来自于销售机票、...</p>\n\n<a href=\"https://finance.sina.com.cn/consume/puguangtai/2025-02-19/doc-inekyxsf3088214.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4526":"热门中概股","IE0003851619.USD":"BNY MELLON ASIAN EQUITY \"B\" (USD) ACC","LU0509642566.USD":"SCHRODER ISF GLOBAL EMERGING MARKET OPPORTUNITIES \"A\" (USD) INC AV","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","BK4534":"瑞士信贷持仓","09961":"携程集团—S","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU1328277881.USD":"MANULIFE 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SGD","LU0594300419.USD":"富达中国消费基金A","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD"},"source_url":"https://finance.sina.com.cn/consume/puguangtai/2025-02-19/doc-inekyxsf3088214.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2512129786","content_text":"专题：《5D调查》315消费者守护计划\n　　来源：YOUNG财经 漾财经\n资料图。\n　　携程系几个关于机票套餐的法院判例\n　　樊博\n　　24年11月19日，携程公布了去年第三季度的财报，财报显示第三季度携程营收为159亿，其中交通票务营收为57亿，占营收的比为35.8%。\n　　值得注意的是，携程交通票务收入来自包括携程、去哪儿、智行在内的多家OTA线上平台。这些收入中，其中一部分来自于销售机票、火车票的佣金，另一部分则是销售的旅游套餐增值服务。\n　　几个携程系判决案例中的旅行套餐\n　　从裁判文书网中的几个案例，我们可以一窥旅游套餐增值服务给携程系带来了不少的利润。\n　　2024年6月，上海市长宁人民法院对外曾发布一份判决书【（2024）沪0105民初1151号】。\n　　判决书显示，消费者张某于2023年9月在携程购买了一张从上海飞往广州的机票，共支付880元。随后，消费者张某通过航旅纵横查询发现，该机票的实际价格为798元。他认为，他支付的实际机票价格与携程网收取价格间存在差距，所以携程构成价格欺诈。\n　　该案件的被告称，消费者购买的是套餐产品，其所支付费用系针对套餐整体而言的费用，并非仅针对机票部分的价值。\n　　并称在消费者购买套餐产品过程中，被告对套餐产品的属性、内容、价格构成进行了充分的告知，不存在误导或欺诈行为。被告在预订过程中、付款前等多个环节，均清晰、无遗漏地向原告告知了套餐产品的内容、价格构成，同时也提供了除套餐产品以外的其他价格选项供原告自行选择，并不存在任何隐瞒或虚假宣传的欺诈情形。\n　　同时强调，机票与其他产品组合的套餐产品，为行业内常见的产品销售形式。被告销售涉案的套餐产品不违反强制性法律规定、且符合行业惯例。\n　　判决书显示，套餐中包含的优惠券分为租车券（满300减78，满600减158，满2000减400，满5000减600）、门票券（满500减20）、一日游券：满400减50，满1000减200，满2000减300。\n　　法院认为，携程在向消费者提供预订服务时，分别在机票预订页面、产品说明页面、订单填写页面及支付明细页面多次以加粗、亮色字体等方式向原告展示涉案预订服务系旅游专享套餐产品及产品所包含的内容和对应价格，其他相关产品中也显示了机票价格，因此认定携程已尽到显著提示与告知义务，不存在故意隐瞒真实情况的行为。消费者最终败诉。\n　　去哪儿同样如此，靠着向消费者售卖旅行套餐，获利不少。\n　　北京互联网法院发布的（2024）京0491民初15405号显示，消费者孟某于2024年7月在去哪儿网购买了武汉飞往乌鲁木齐的机票，共支付1789元，但随后孟某发现航空公司开具的行程单显示，该机票的价格为1680元，便向去哪儿网投诉。\n　　去哪儿表示可以退还109元的差价，并称差价来源于旅行套餐券，消费者孟某称，他购买机票时，选择的订购项是此航班最低价格，并未额外花钱购买套餐。也从未勾选套餐，系商家捆绑销售，被告的购票页面没有清楚显示单张机票价格和套餐券价格的分项明细，没有给出取消附加套餐券的机票价格选项，旅行套餐券属于强制附加在机票订单里的赠送券，原告并不知情购买的机票包含旅行套餐券且未使用套餐里的任何优惠券。\n　　但法院认为，去哪儿在机票销售流程的多个页面对涉案产品属于旅行套餐进行标注，并对涉案产品的销售规则和销售方名称进行了展示说明。因此该消费者同样败诉。\n　　智行也提供同样的产品。\n　　根据（2024）沪0105民初25081号判决书显示，消费者范某于2024年4月在智行购买了一张从杭州飞往沈阳的机票，花费1166元，后行程单显示该机票含税的实际费用为910元，出票方称，1、消费者购买的是套餐产品，所支付的费用是套餐产品整体费用，非单机票预订费；2、机票+优惠券的套餐产品属于行业惯例，不违反任何强制性规定；3、被告去走走公司作为案涉机票预订套餐的实际服务提供方，收到被告蒜芽公司结算款1，140元，已完成出票义务，且机票已经使用完毕；4、考虑用户体验，且用户并未使用套餐内优惠券，被告去走走公司（携程系公司）自愿补偿226元。法院同样判消费者败诉。\n　　三个案例中，携程、去哪儿、智行共收取两份费用，一边从航空公司获得了机票实际售价的提成，另一边从消费者处获得了旅行券包的费用。其中携程案例中，券包价值为82元；去哪儿案例中，券包价值为109元；智行案例中，券包的价值为226元。\n　　收费不一的优惠券价格\n　　在这三个判例中，法院都认为平台给了消费者套餐产品以外不同的选择，并且明确标注了套餐字样。因此三位消费者最终都败诉了。\n　　但三个平台都没能清楚标明套餐中所附带的旅游券包价值多少。\n　　上述携程案例中，张某购买的包括租车券、门票券和一日游券在内的优惠券，价值为82元。而在（2023）沪0105民初38520号判例中，消费者王某在携程购买了一张从兰州飞往昆明的机票，支付了1876元，却发现行程单显示总票价为1770元，携程同样称消费者购买的为旅游专享套餐。该套餐除了机票，还包括了包括租车券、门票券和一日游券在内的优惠券。优惠券与张某购买的的一模一样。这中间的差价为106元，因此这些优惠券的价值为106元。\n　　去哪儿同样如此，不同的消费者购买的旅游套餐中包含的是同样的优惠券，但所付出的费用却不同。\n　　一位从咸阳飞往乌鲁木齐的消费者，他的去哪儿订单显示，他购买的旅行套餐为420元，但行程单显示他购买的机票实际价格为400元，因此他购买的券包价值为20元。\n　　而另一位从沈阳飞往太原的消费者，他的去哪儿订单显示，他购买的旅行套餐价格为292元，航空公司给他开的发票却显示，机票价格为0元。\n　　但去哪儿向这两位消费者销售的券包是一样的，都包含一张9.7折度假券、一张购物享免税价券、一张接送机满减券和一张8.5折租车券。\n\n　　左图为咸阳飞往乌鲁木齐消费者购买的优惠券，其中航空意外险为额外购买，并不包含在券包内；右图为沈阳飞往太原消费者购买的优惠券。\n　　同样产品不同价格这一现象，同样出现在智行机票平台上。\n　　一位从北京飞往杭州的智行机票消费者表示，她共花费了1375元购买机票。智行平台起初为她出了一张1380元的机票（航旅纵横查询显示），随后又将这张机票退票，为她购买了一张920元的同航班机票。她购买的旅行套餐中，除了机票外，还包含了4张50元的酒店满减券，4张200元门票满减券。这些优惠券的价值为455元。\n　　另一位购买厦门飞往上海的智行机票消费者，花费了818元购买机票套餐。她同样遭遇了智行平台的退票，最终购买的机票，航旅纵横显示含税价为730元。她购买的旅行套餐中，同样包含了上述酒店满减券以及门票满减券。对于该消费者，这些优惠券的价值为88元。\n\n　　从上面所列举的每单个判决案例来看，法院的意见是每个消费者都需要为自己的消费行为负责。但若是将这些案例放在一起，在支付给购票平台与航空公司实际收取的费用之间所存在的差距，似乎应该进一步分析其中原因。■\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：李昂","news_type":1,"symbols_score_info":{"TCOM":1,"09961":1}},"isVote":1,"tweetType":1,"viewCount":2671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":407038545084464,"gmtCreate":1740393195241,"gmtModify":1740393197065,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"程维柳青王兴 等有压力没？","listText":"程维柳青王兴 等有压力没？","text":"程维柳青王兴 等有压力没？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/407038545084464","repostId":"1166496488","repostType":2,"repost":{"id":"1166496488","kind":"news","pubTimestamp":1740391073,"share":"https://www.laohu8.com/m/news/1166496488?lang=zh_CN&edition=full","pubTime":"2025-02-24 17:57","market":"hk","language":"zh","title":"京东：外卖骑手五险一金的所有成本，全部由京东承担","url":"https://stock-news.laohu8.com/highlight/detail?id=1166496488","media":"新浪科技","summary":"未来，京东集团将大力推进同工同酬。","content":"<html><head></head><body><p style=\"text-align: start;\">2月24日晚间消息，京东集团宣布，鉴于目前外卖骑手的平均薪酬远低于京东快递小哥，为了薪酬公平性，未来一段时期签约的外卖全职骑手缴纳五险一金的所有成本，包含个人所需缴纳部分，全部由京东承担，确保骑手现金收入绝不会因为缴纳五险一金而减少，此项举措包含现有骑手和新加入的骑手。</p><p style=\"text-align: start;\">未来，京东集团将大力推进同工同酬，逐步提高外卖骑手的福利待遇，通过实现一体化管理大幅降低管理成本，从而让外卖全职骑手和京东快递小哥一样，成为收入稳定、工作幸福、老有保障的庞大就业群体。</p><p style=\"text-align: start;\">此前，京东集团率先启动为现有和新加入的京东外卖全职骑手缴纳五险一金，为兼职骑手提供意外险和健康医疗险。（闫妍）</p></body></html>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>京东：外卖骑手五险一金的所有成本，全部由京东承担</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ 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#494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n京东：外卖骑手五险一金的所有成本，全部由京东承担\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-02-24 17:57 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/tech/it/2025-02-24/doc-inemqtxe9886238.shtml><strong>新浪科技</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2月24日晚间消息，京东集团宣布，鉴于目前外卖骑手的平均薪酬远低于京东快递小哥，为了薪酬公平性，未来一段时期签约的外卖全职骑手缴纳五险一金的所有成本，包含个人所需缴纳部分，全部由京东承担，确保骑手现金收入绝不会因为缴纳五险一金而减少，此项举措包含现有骑手和新加入的骑手。未来，京东集团将大力推进同工同酬，逐步提高外卖骑手的福利待遇，通过实现一体化管理大幅降低管理成本，从而让外卖全职骑手和京东快递小哥...</p>\n\n<a href=\"https://finance.sina.com.cn/tech/it/2025-02-24/doc-inemqtxe9886238.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c6d614d2a350aedef2a05b5cddc42006","relate_stocks":{"JD":"京东","09618":"京东集团-SW"},"source_url":"https://finance.sina.com.cn/tech/it/2025-02-24/doc-inemqtxe9886238.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166496488","content_text":"2月24日晚间消息，京东集团宣布，鉴于目前外卖骑手的平均薪酬远低于京东快递小哥，为了薪酬公平性，未来一段时期签约的外卖全职骑手缴纳五险一金的所有成本，包含个人所需缴纳部分，全部由京东承担，确保骑手现金收入绝不会因为缴纳五险一金而减少，此项举措包含现有骑手和新加入的骑手。未来，京东集团将大力推进同工同酬，逐步提高外卖骑手的福利待遇，通过实现一体化管理大幅降低管理成本，从而让外卖全职骑手和京东快递小哥一样，成为收入稳定、工作幸福、老有保障的庞大就业群体。此前，京东集团率先启动为现有和新加入的京东外卖全职骑手缴纳五险一金，为兼职骑手提供意外险和健康医疗险。（闫妍）","news_type":1,"symbols_score_info":{"09618":1.1,"JD":1.1}},"isVote":1,"tweetType":1,"viewCount":1927,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":315233324228920,"gmtCreate":1717992096402,"gmtModify":1717992098851,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"1 不负粽旺 2与粽不同 3万粽一心 4 财华出粽 5一举高粽","listText":"1 不负粽旺 2与粽不同 3万粽一心 4 财华出粽 5一举高粽","text":"1 不负粽旺 2与粽不同 3万粽一心 4 财华出粽 5一举高粽","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/315233324228920","isVote":1,"tweetType":1,"viewCount":2576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":200596956360824,"gmtCreate":1689998616507,"gmtModify":1689998618801,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"这是大A不可能出现的一幕","listText":"这是大A不可能出现的一幕","text":"这是大A不可能出现的一幕","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/200596956360824","repostId":"1124283348","repostType":2,"repost":{"id":"1124283348","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1689979386,"share":"https://www.laohu8.com/m/news/1124283348?lang=zh_CN&edition=full","pubTime":"2023-07-22 06:43","market":"us","language":"zh","title":"美股散户意外大胜！AMC优先股转普通股申请被驳回，盘后大涨一度接近翻倍","url":"https://stock-news.laohu8.com/highlight/detail?id=1124283348","media":"华尔街见闻","summary":"7月22日，$AMC院线(AMC)$盘后股价一度飙升逾90%，此前该公司申请将APE优先股转换为普通股，但遭美国特拉华州一名法官驳回，该计划会造成散户的持股被稀释，而这些散户已帮助AMC院线走出破产边缘。","content":"<html><head></head><body><p>7月21日盘后，美国连锁影院AMC将APE优先股转换为普通股的申请被美国特拉华州一名法官驳回。这一进展被视作散户投资者的巨大且意外的胜利，<a href=\"https://laohu8.com/S/AMC\">AMC院线</a>美股盘后飙涨一度超94%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/257425f37704e057e2ffcd4fa6a6011e\" title=\"\" tg-width=\"858\" tg-height=\"832\"/></p><p style=\"text-align: justify;\">今年3月，AMC院线公司拟议将优先股转换为普通股，这一套利交易的目的明显：AMC每股就能从中获利5美元。但是AMC此举将稀释那些将该公司从破产边缘拯救出来的散户投资者的权益。</p><p style=\"text-align: justify;\"><strong>7月21日的这项裁决出乎投资者和分析师的预料，使急于进行资本重组的AMC公司重新回到原点。</strong>由于利率上升导致贷款融资变得困难，AMC一直渴望转换APE并发行新股来融资。</p><p style=\"text-align: justify;\">自今年2月份以来，APE一直是控辩双方诉讼的主题。此案使AMC与许多参与“散户抱团股”反弹的散户投资者分道扬镳，这些投资者在疫情最严重的时候拉抬股价，拯救了这家陷入困境的连锁影院。</p><p style=\"text-align: justify;\">该公司去年发行了优先股APE，其中包括向Antara Capital LP发行30%的股份，此后一直在尝试将其转换为普通股。</p><p style=\"text-align: justify;\">3月对原始APE转换计划进行投票的普通股股东中，约有70%表示赞成，尽管参与的人数相对较少。但许多其他散户投资者要么反对稀释其股票的举措，要么干脆不对公司提案进行投票。数百名散户投资者写信给法庭反对和解协议，其中四人出席了6月的和解听证会（其中一人还带着律师）正式表示反对。</p><p style=\"text-align: justify;\">由养老基金和散户股东牵头的股东集体诉讼指控AMC实施非法企业工程计划，旨在排挤其投资者基础。该诉讼特别关注“镜像投票”条款，要求股票存托公司根据APE的实际投票比例对所有优先股进行投票。</p><p style=\"text-align: justify;\">周五，随着AMC的大涨，其他“散户抱团股”也在盘后跟随上涨。其中，<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>一度涨6%，WKHS涨近2%。</p><p style=\"text-align: justify;\">AMC周五盘后迎来的好消息正值美国散户抱团股暴涨之际。</p><p style=\"text-align: justify;\">今年迄今，散户抱团股ETF累计上涨61%，明星抱团股中，不乏一些涨幅吊打<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>的超级赢家：比特币矿商Riot Platforms累涨439%，AI借贷平台Upstart Holdings累涨308%，Coinbase累涨196%，电动汽车股Carvana累涨了740%。</p><p style=\"text-align: justify;\">看起来散户抱团股一团火热，但看空美股的市场参与者则相信，一场全面崩盘的完美风暴正在酝酿之中。</p><p style=\"text-align: justify;\">2021年末，散户投资者同样争先恐后地大举买入，但之后就遭遇了惨烈的熊市：年初散户蜂拥入市的时候，VIX指数和看跌期权与看涨期权比率同样处于低位；但到2022年1月初，三大股指均已见顶，标普500在一年里累计下跌了19%。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美股散户意外大胜！AMC优先股转普通股申请被驳回，盘后大涨一度接近翻倍</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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}\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美股散户意外大胜！AMC优先股转普通股申请被驳回，盘后大涨一度接近翻倍\n</h2>\n\n<h4 class=\"meta\">\n\n2023-07-22 06:43 北京时间&nbsp;&nbsp;&nbsp;<strong>华尔街见闻</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>7月21日盘后，美国连锁影院AMC将APE优先股转换为普通股的申请被美国特拉华州一名法官驳回。这一进展被视作散户投资者的巨大且意外的胜利，AMC院线美股盘后飙涨一度超94%。今年3月，AMC院线公司拟议将优先股转换为普通股，这一套利交易的目的明显：AMC每股就能从中获利5美元。但是AMC此举将稀释那些将该公司从破产边缘拯救出来的散户投资者的权益。7月21日的这项裁决出乎投资者和分析师的预料，使急于...</p>\n\n<a href=\"\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/537ad0b0f865a392242e7815952d23bd","relate_stocks":{"BK4547":"WSB热门概念","AMC":"AMC院线","BK4108":"电影和娱乐"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124283348","content_text":"7月21日盘后，美国连锁影院AMC将APE优先股转换为普通股的申请被美国特拉华州一名法官驳回。这一进展被视作散户投资者的巨大且意外的胜利，AMC院线美股盘后飙涨一度超94%。今年3月，AMC院线公司拟议将优先股转换为普通股，这一套利交易的目的明显：AMC每股就能从中获利5美元。但是AMC此举将稀释那些将该公司从破产边缘拯救出来的散户投资者的权益。7月21日的这项裁决出乎投资者和分析师的预料，使急于进行资本重组的AMC公司重新回到原点。由于利率上升导致贷款融资变得困难，AMC一直渴望转换APE并发行新股来融资。自今年2月份以来，APE一直是控辩双方诉讼的主题。此案使AMC与许多参与“散户抱团股”反弹的散户投资者分道扬镳，这些投资者在疫情最严重的时候拉抬股价，拯救了这家陷入困境的连锁影院。该公司去年发行了优先股APE，其中包括向Antara Capital LP发行30%的股份，此后一直在尝试将其转换为普通股。3月对原始APE转换计划进行投票的普通股股东中，约有70%表示赞成，尽管参与的人数相对较少。但许多其他散户投资者要么反对稀释其股票的举措，要么干脆不对公司提案进行投票。数百名散户投资者写信给法庭反对和解协议，其中四人出席了6月的和解听证会（其中一人还带着律师）正式表示反对。由养老基金和散户股东牵头的股东集体诉讼指控AMC实施非法企业工程计划，旨在排挤其投资者基础。该诉讼特别关注“镜像投票”条款，要求股票存托公司根据APE的实际投票比例对所有优先股进行投票。周五，随着AMC的大涨，其他“散户抱团股”也在盘后跟随上涨。其中，游戏驿站一度涨6%，WKHS涨近2%。AMC周五盘后迎来的好消息正值美国散户抱团股暴涨之际。今年迄今，散户抱团股ETF累计上涨61%，明星抱团股中，不乏一些涨幅吊打英伟达的超级赢家：比特币矿商Riot Platforms累涨439%，AI借贷平台Upstart 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n飙涨超86倍后暴跌98%，为何中概股极端行情频现？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-03 14:06 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/0XIx0h-m9cz4w_aC1wHZEw><strong>上海证券报</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>当地时间9月2日，上市第三日的盈喜集团股价开盘迅速下跌，截至收盘，全天下跌68.03%，报9.59美元/股，两日累计跌幅达98.54%。而在其上市的首个交易日（8月31日），盈喜集团收于656.54美元/股，暴涨8653.87％。从尚乘数科、智富融资、见知教育到盈喜集团，为何中概股极端行情频现？飙涨超86倍后暴跌98%当地时间8月31日，盈喜集团从粉单市场OTC转板纳斯达克资本市场。当天，盈喜集团...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/0XIx0h-m9cz4w_aC1wHZEw\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d8fb95e65f042f352c6313989391357","relate_stocks":{"TTTN":"老虎中美互联网巨头ETF","QNETCN":"纳斯达克中美互联网老虎指数"},"source_url":"https://mp.weixin.qq.com/s/0XIx0h-m9cz4w_aC1wHZEw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185900016","content_text":"当地时间9月2日，上市第三日的盈喜集团股价开盘迅速下跌，截至收盘，全天下跌68.03%，报9.59美元/股，两日累计跌幅达98.54%。而在其上市的首个交易日（8月31日），盈喜集团收于656.54美元/股，暴涨8653.87％。从尚乘数科、智富融资、见知教育到盈喜集团，为何中概股极端行情频现？飙涨超86倍后暴跌98%当地时间8月31日，盈喜集团从粉单市场OTC转板纳斯达克资本市场。当天，盈喜集团股价开盘报27美元，为该股发行价5美元的5.4倍，早盘曾收窄涨幅，股价回落到12.95美元，自午盘起大幅拉升，最终收报656.54美元，较在纳斯达克上市前一日的OTC市场收盘价7.5美元，暴涨8653.87%。据悉，盈喜集团此次共发行500万股普通股。在未扣除承销折扣及相关费用的情况下，此次发行共计融资约2500万美元。不过好景不长，随后两个交易日，盈喜集团又快速回落，上市第二日大跌95.43%；第三日大跌68.03%，截至9月2日收盘，该股报9.59美元/股，两日累计跌幅达98.54%，回吐首个交易日大部分涨幅。并且在9月2日，该股成交量显著放大，全天成交511.3万股；而8月31日、9月1日则分别成交51.61万股、99.24万股。公开信息显示，盈喜集团总部位于深圳，是一家专注于服装制造、物流服务、物业管理和转租以及防疫用品的综合服务提供商，旗下共有6家子公司。2016年，盈喜集团通过反向并购的方式，成功登陆美国资本市场。财报显示，盈喜集团2021财年(截至2022年3月31日)的营业收入为1269.06万美元，较上一财年的2473.48万美元大幅下降48.7%。具体而言，该公司服装制造业务2021财年收入为252.54万美元，在总收入中占比约为19.9%；物流服务业务收入为约533.23万美元，约占总收入的42.0%；物业管理和转租业务收入为426.52万美元，约占总收入的33.6%；防疫用品业务收入为56.78万美元，约占总收入的4.5%。中概股极端行情频出值得注意的是，7月以来，已经有多只中概股演绎极端行情。今年7月15日登陆纽交所的尚乘数科，仅13个交易日股价最高触及2555.3美元/股，涨幅超300倍，总市值一度飙至3100亿美元，超越阿里巴巴、京东、拼多多等一众龙头中概股。此后尚乘数科一路下行，截至9月2日收盘，尚乘数科报收100.01美元/股，市值跌至187.46亿美元。8月5日在纳斯达克上市的智富融资，上市首日股价一度摸高至235.95美元/股，暴涨超52倍，盘中多次触发熔断，截至当日收盘，报收97美元/股，上涨2325%。然而仅仅3个交易日，智富融资大跌89.47%，换手率攀升至57.36%。截至9月2日收盘，该股股价已跌至5.82美元/股。同样上演“过山车”行情的还有见知教育。8月26日，见知教育赴纳斯达克上市，开盘后股价一飞冲天，盘中一度暴涨超36倍，当天收涨275%。不过，随后股价连续三天大跌，截至9月2日收盘，该股股价已跌至5.32美元/股。中概股为何频现暴涨暴跌行情？没有基本面支撑，中概股上市初期却频频上演暴涨暴跌行情，背后的原因是什么？有分析认为，股本高度集中、流动盘稀少是部分中概股股价暴涨的原因。例如，尚乘数科总股本约为1.87亿股，而流通股仅有1840万股；同样，见知教育总股本约为6056万股，而流通股仅有500万股。有市场人士指出，这类股票飙涨背后离不开资金炒作，当基本面和估值不匹配时，投资者应保持警惕。有券商投研团队提示，海外IPO新股没有历史筹码，关注度由低走高过程中，容易引起市场情绪的集中催化。当前市场缺乏赚钱热点，短炒资金集中炒作，投资者应该优先考虑风险因素。","news_type":1,"symbols_score_info":{"TTTN":0.9,"QNETCN":0.9}},"isVote":1,"tweetType":1,"viewCount":4570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":687333805,"gmtCreate":1660741088409,"gmtModify":1660741088409,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3550884934656926","idStr":"3550884934656926"},"themes":[],"htmlText":"拼多多的套路敢在美国用么？","listText":"拼多多的套路敢在美国用么？","text":"拼多多的套路敢在美国用么？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/687333805","repostId":"1130583336","repostType":4,"isVote":1,"tweetType":1,"viewCount":4395,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":979039072,"gmtCreate":1597930413196,"gmtModify":1704217292226,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"<a 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现在价位回到当初了吗？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/522211224191224","isVote":1,"tweetType":1,"viewCount":1026,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3501110471229028","authorId":"3501110471229028","name":"赚钱去火星","avatar":"https://static.tigerbbs.com/b086a214bbd5d0efb72fd2f72b054b57","crmLevel":8,"crmLevelSwitch":1,"idStr":"3501110471229028","authorIdStr":"3501110471229028"},"content":"但是拼多多当年确实是机会。 [贱笑]","text":"但是拼多多当年确实是机会。 [贱笑]","html":"但是拼多多当年确实是机会。 [贱笑]"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":355194065,"gmtCreate":1617033042257,"gmtModify":1617033042257,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"除非证明电子烟延年益寿 不然这个票最终都是个死&nbsp;","listText":"除非证明电子烟延年益寿 不然这个票最终都是个死&nbsp;","text":"除非证明电子烟延年益寿 不然这个票最终都是个死","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/355194065","repostId":"2123256988","repostType":4,"repost":{"id":"2123256988","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1617032828,"share":"https://www.laohu8.com/m/news/2123256988?lang=zh_CN&edition=full","pubTime":"2021-03-29 23:47","market":"us","language":"zh","title":"【异动】雾芯科技暴涨18%","url":"https://stock-news.laohu8.com/highlight/detail?id=2123256988","media":"老虎资讯综合","summary":"3月29日，雾芯科技盘中暴涨18%，近日公司发表在《应用毒理学杂志》上的最新同行评议研究表明，电子烟中广泛使用的冷却剂WS-23在测试剂量下对实验动物的影响有限。研究表明,在急性和亚急性吸入研究中,W","content":"<p>3月29日，雾芯科技盘中暴涨18%，近日公司发表在《应用毒理学杂志》上的最新同行评议研究表明，电子烟中广泛使用的冷却剂WS-23在测试剂量下对实验动物的影响有限。</p><p><img src=\"https://static.tigerbbs.com/8019537d929c1d771ebec3fa1ed6f205\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>研究表明,在急性和亚急性吸入研究中,WS-23治疗组均无死亡,体重、脏器重量、血液学和血清生化均无显著变化,组织病理学分析也无毒性作用。</p><p>同时，雾芯科技第四季度利润超分析师预期营收上升。RLX科技首席执行官王莹女士说：“展望未来，我们计划进一步巩固我们的领导地位，我们将继续努力在科学研究方面进行投资，加强我们的技术和产品开发，加强我们的分销和零售网络，加强供应链和生产能力，并扩展我们的全球能力。这些战略举措旨在支持我们的长期增长。“</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>【异动】雾芯科技暴涨18%</title>\n<style 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23:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>3月29日，雾芯科技盘中暴涨18%，近日公司发表在《应用毒理学杂志》上的最新同行评议研究表明，电子烟中广泛使用的冷却剂WS-23在测试剂量下对实验动物的影响有限。</p><p><img src=\"https://static.tigerbbs.com/8019537d929c1d771ebec3fa1ed6f205\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>研究表明,在急性和亚急性吸入研究中,WS-23治疗组均无死亡,体重、脏器重量、血液学和血清生化均无显著变化,组织病理学分析也无毒性作用。</p><p>同时，雾芯科技第四季度利润超分析师预期营收上升。RLX科技首席执行官王莹女士说：“展望未来，我们计划进一步巩固我们的领导地位，我们将继续努力在科学研究方面进行投资，加强我们的技术和产品开发，加强我们的分销和零售网络，加强供应链和生产能力，并扩展我们的全球能力。这些战略举措旨在支持我们的长期增长。“</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e9c35ed98221796867ee3eb028c7fe9e","relate_stocks":{"RLX":"雾芯科技"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2123256988","content_text":"3月29日，雾芯科技盘中暴涨18%，近日公司发表在《应用毒理学杂志》上的最新同行评议研究表明，电子烟中广泛使用的冷却剂WS-23在测试剂量下对实验动物的影响有限。研究表明,在急性和亚急性吸入研究中,WS-23治疗组均无死亡,体重、脏器重量、血液学和血清生化均无显著变化,组织病理学分析也无毒性作用。同时，雾芯科技第四季度利润超分析师预期营收上升。RLX科技首席执行官王莹女士说：“展望未来，我们计划进一步巩固我们的领导地位，我们将继续努力在科学研究方面进行投资，加强我们的技术和产品开发，加强我们的分销和零售网络，加强供应链和生产能力，并扩展我们的全球能力。这些战略举措旨在支持我们的长期增长。“","news_type":1,"symbols_score_info":{"RLX":0.9}},"isVote":1,"tweetType":1,"viewCount":3568,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3550575704688251","authorId":"3550575704688251","name":"hzj666","avatar":"https://static.tigerbbs.com/1bc83468e0368ed823683232c0da2a44","crmLevel":2,"crmLevelSwitch":0,"idStr":"3550575704688251","authorIdStr":"3550575704688251"},"content":"死是不可能的，就算最终国内没市场，国外市场还是有的","text":"死是不可能的，就算最终国内没市场，国外市场还是有的","html":"死是不可能的，就算最终国内没市场，国外市场还是有的"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":948549380,"gmtCreate":1595428187240,"gmtModify":1704208964368,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"政治体制&nbsp;才是矛盾根本吧","listText":"政治体制&nbsp;才是矛盾根本吧","text":"政治体制 才是矛盾根本吧","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/948549380","repostId":"1128076133","repostType":4,"isVote":1,"tweetType":1,"viewCount":2300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":521670960149840,"gmtCreate":1768397044214,"gmtModify":1768397048487,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"title":"","htmlText":"看看20年后的阿里 21年后的美团 、谁还认为这是个机会？","listText":"看看20年后的阿里 21年后的美团 、谁还认为这是个机会？","text":"看看20年后的阿里 21年后的美团 、谁还认为这是个机会？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/521670960149840","isVote":1,"tweetType":1,"viewCount":1909,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3479274803156147","authorId":"3479274803156147","name":"0billionaire","avatar":"https://static.laohu8.com/picture159","crmLevel":1,"crmLevelSwitch":0,"idStr":"3479274803156147","authorIdStr":"3479274803156147"},"content":"机会还在，耐心等回调！","text":"机会还在，耐心等回调！","html":"机会还在，耐心等回调！"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":613530874,"gmtCreate":1649932839599,"gmtModify":1649932839599,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"官字两张口 👍","listText":"官字两张口 👍","text":"官字两张口 👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/613530874","repostId":"1140263734","repostType":2,"isVote":1,"tweetType":1,"viewCount":4318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":305764029,"gmtCreate":1605063663661,"gmtModify":1703836040739,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"一匹埋头只管吃的马 和一匹吃点草料就撒欢儿乱叫乱跑的马 对比结果大多如此[开心]&nbsp;","listText":"一匹埋头只管吃的马 和一匹吃点草料就撒欢儿乱叫乱跑的马 对比结果大多如此[开心]&nbsp;","text":"一匹埋头只管吃的马 和一匹吃点草料就撒欢儿乱叫乱跑的马 对比结果大多如此[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/305764029","repostId":"1111953700","repostType":4,"repost":{"id":"1111953700","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1605063445,"share":"https://www.laohu8.com/m/news/1111953700?lang=zh_CN&edition=full","pubTime":"2020-11-11 10:57","market":"hk","language":"zh","title":"阿里让出港股市值第一宝座，腾讯接棒","url":"https://stock-news.laohu8.com/highlight/detail?id=1111953700","media":"老虎资讯综合","summary":"11月11日，阿里巴巴跌超8%，市值缩至54084亿港元，让出港股市值第一宝座。腾讯跌近5%市值54154亿港元，超过阿里。","content":"<p><img src=\"https://static.tigerbbs.com/6155e10fea3e0a53cbd9de71a6eb1614\" tg-width=\"840\" tg-height=\"470\"><img src=\"https://static.tigerbbs.com/ee8c8cf0098755f9bd1a4ca798be6ebc\" tg-width=\"840\" tg-height=\"470\">11月11日，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>跌超8%，市值缩至54084亿港元，让出港股市值第一宝座。<a href=\"https://laohu8.com/S/00700\">腾讯</a>跌近5%市值54154亿港元，超过阿里。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>阿里让出港股市值第一宝座，腾讯接棒</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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}\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n阿里让出港股市值第一宝座，腾讯接棒\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2020-11-11 10:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/6155e10fea3e0a53cbd9de71a6eb1614\" tg-width=\"840\" tg-height=\"470\"><img src=\"https://static.tigerbbs.com/ee8c8cf0098755f9bd1a4ca798be6ebc\" tg-width=\"840\" tg-height=\"470\">11月11日，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>跌超8%，市值缩至54084亿港元，让出港股市值第一宝座。<a href=\"https://laohu8.com/S/00700\">腾讯</a>跌近5%市值54154亿港元，超过阿里。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f13f9296c3b006f981500ed5d2af766f","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111953700","content_text":"11月11日，阿里巴巴跌超8%，市值缩至54084亿港元，让出港股市值第一宝座。腾讯跌近5%市值54154亿港元，超过阿里。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820373608,"gmtCreate":1633356088734,"gmtModify":1633356088734,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"又一把新的镰刀磨好了 韭菜们踊跃现身吧[开心]&nbsp;","listText":"又一把新的镰刀磨好了 韭菜们踊跃现身吧[开心]&nbsp;","text":"又一把新的镰刀磨好了 韭菜们踊跃现身吧[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/820373608","repostId":"1192724044","repostType":4,"repost":{"id":"1192724044","kind":"news","pubTimestamp":1633341497,"share":"https://www.laohu8.com/m/news/1192724044?lang=zh_CN&edition=full","pubTime":"2021-10-04 17:58","market":"hk","language":"zh","title":"默沙东宣布新药之后，疫情与医药股行情将如何演绎","url":"https://stock-news.laohu8.com/highlight/detail?id=1192724044","media":"中信建投证券研究","summary":"国际市场主流国家流感疫苗接种率仍维持40%-50%高位。","content":"<p>作者：贺菊颖、袁清慧、刘若飞、胡世超、阳明春、赖俊勇</p>\n<p>原文标题：疫苗+药物，迎接黎明前的曙光</p>\n<p>10月1日，<a href=\"https://laohu8.com/S/MRK\">默沙东</a>官方网站宣布，其口服抗病毒药物 Molnupiravir 使轻中度新冠患者的住院率或死亡风险降低了约50%，公司计划在美国寻求获得紧急使用授权，并向全球其他药品监管机构提交上市申请。</p>\n<p><b>我们梳理了最新的全球新冠小分子药物研发进展。</b></p>\n<p>目前全球已上市及在研新冠小分子药物共169款，其中：已获批上市2款，分别为瑞德西韦和巴瑞替尼；临床III期36款，最受关注的是来自默沙东的Molnupiravir和罗氏的AT-527；临床三期的药物中，国内企业进行研究的共3款，分别为可利霉素（沈阳同联）、普克鲁胺（开拓药业）和ASC09F/利托那韦联用（歌礼药业）。</p>\n<p><b>如何看待默沙东新冠口服药物三期临床成功对国内制药产业链的影响？</b></p>\n<p>Molnupiravir作为核苷类药物，整体合成路径与其他核苷类药物有诸多相似性；现有合成路线以尿苷或胞苷起始，经化学合成和/或酶催化酰化得到Molnupiravir；相关起始物料或中间体供应商如<a href=\"https://laohu8.com/S/300702\">天宇股份</a>、<a href=\"https://laohu8.com/S/600267\">海正药业</a>、拓新药业等或受益；新冠小分子药物研发积极推动，国内小分子CDMO龙头公司如<a href=\"https://laohu8.com/S/WX\">药明康德</a>、<a href=\"https://laohu8.com/S/002821\">凯莱英</a>、九州药业等亦有可能承接相关业务。</p>\n<p><b>疫苗+小分子口服药物+中和抗体，抗击新冠病毒的组合拳，各有优势。</b></p>\n<p>疫苗、中和抗体与小分子药物共同抗击疫情，发挥不同功效，未来一段时间需求均将持续存在。全球范围内流感特效药已广泛存在，国际市场主流国家流感疫苗接种率仍维持40%-50%高位。</p>\n<p><b>港股行情回顾：本周医药整体跑输大盘，CXO及中药表现较好。</b></p>\n<p>本周恒生医疗保健上涨0.08%，恒生指数上涨1.59%，恒生医疗保健整体跑输大盘1.51%。年初以来，恒生医疗保健整体跑输大盘0.10%。子行业方面，本周CXO（+3.89%）、中药（+2.97%）子行业表现较好。</p>\n<p><b>A股行情回顾：本周医药整体跑赢大盘，医疗服务及医药零售表现较好。</b></p>\n<p>本周医药指数下跌0.43%，万得全A指数下跌1.58%，医药指数整体跑赢大盘1.15%。2021年以来，医药指数整体跑输大盘10.02%。子行业方面，本周医疗服务（+2.43%）、医药零售（+1.45%）子行业表现较好。</p>\n<p><img src=\"https://static.tigerbbs.com/0cffd86c707201f0c77f6f67189c2221\" tg-width=\"960\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c4cba5c16ac340568f894accd7e45660\" tg-width=\"960\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/0d94cd12c2ef4a3ca40bcb0ebe62963c\" tg-width=\"960\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p><img 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Molnupiravir 使轻中度新冠患者的住院率或死亡风险降低了约50%，公司计划在美国寻求获得紧急使用授权，并向全球其他药品监管机构提交上市申请。\n我们梳理了最新的全球新冠小分子药物研发进展。\n目前全球已上市及在研新冠小分子药物共169款，其中：已获批...</p>\n\n<a href=\"https://mp.weixin.qq.com/s?__biz=MzI3ODAyODI0Ng==&mid=2649258370&idx=3&sn=d860d1f2e126b64e3770ff15e41fa7ec&chksm=f341933bc4361a2d13510c9f3ef291fe111c164b06c999e10e7367b13e6405dfa19493ccf846&scene=126&&sessionid=1633330909\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fb4be1ff4aaa40ac88564f80f173158e","relate_stocks":{"MRK":"默沙东"},"source_url":"https://mp.weixin.qq.com/s?__biz=MzI3ODAyODI0Ng==&mid=2649258370&idx=3&sn=d860d1f2e126b64e3770ff15e41fa7ec&chksm=f341933bc4361a2d13510c9f3ef291fe111c164b06c999e10e7367b13e6405dfa19493ccf846&scene=126&&sessionid=1633330909","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192724044","content_text":"作者：贺菊颖、袁清慧、刘若飞、胡世超、阳明春、赖俊勇\n原文标题：疫苗+药物，迎接黎明前的曙光\n10月1日，默沙东官方网站宣布，其口服抗病毒药物 Molnupiravir 使轻中度新冠患者的住院率或死亡风险降低了约50%，公司计划在美国寻求获得紧急使用授权，并向全球其他药品监管机构提交上市申请。\n我们梳理了最新的全球新冠小分子药物研发进展。\n目前全球已上市及在研新冠小分子药物共169款，其中：已获批上市2款，分别为瑞德西韦和巴瑞替尼；临床III期36款，最受关注的是来自默沙东的Molnupiravir和罗氏的AT-527；临床三期的药物中，国内企业进行研究的共3款，分别为可利霉素（沈阳同联）、普克鲁胺（开拓药业）和ASC09F/利托那韦联用（歌礼药业）。\n如何看待默沙东新冠口服药物三期临床成功对国内制药产业链的影响？\nMolnupiravir作为核苷类药物，整体合成路径与其他核苷类药物有诸多相似性；现有合成路线以尿苷或胞苷起始，经化学合成和/或酶催化酰化得到Molnupiravir；相关起始物料或中间体供应商如天宇股份、海正药业、拓新药业等或受益；新冠小分子药物研发积极推动，国内小分子CDMO龙头公司如药明康德、凯莱英、九州药业等亦有可能承接相关业务。\n疫苗+小分子口服药物+中和抗体，抗击新冠病毒的组合拳，各有优势。\n疫苗、中和抗体与小分子药物共同抗击疫情，发挥不同功效，未来一段时间需求均将持续存在。全球范围内流感特效药已广泛存在，国际市场主流国家流感疫苗接种率仍维持40%-50%高位。\n港股行情回顾：本周医药整体跑输大盘，CXO及中药表现较好。\n本周恒生医疗保健上涨0.08%，恒生指数上涨1.59%，恒生医疗保健整体跑输大盘1.51%。年初以来，恒生医疗保健整体跑输大盘0.10%。子行业方面，本周CXO（+3.89%）、中药（+2.97%）子行业表现较好。\nA股行情回顾：本周医药整体跑赢大盘，医疗服务及医药零售表现较好。\n本周医药指数下跌0.43%，万得全A指数下跌1.58%，医药指数整体跑赢大盘1.15%。2021年以来，医药指数整体跑输大盘10.02%。子行业方面，本周医疗服务（+2.43%）、医药零售（+1.45%）子行业表现较好。","news_type":1,"symbols_score_info":{"MRK":0.9}},"isVote":1,"tweetType":1,"viewCount":1263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":335131234,"gmtCreate":1610545969628,"gmtModify":1703745092646,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KUKE\">$库客音乐(KUKE)$</a> 这中签率究竟是多少？老虎究竟是如何分配的？&nbsp;","listText":"<a href=\"https://laohu8.com/S/KUKE\">$库客音乐(KUKE)$</a> 这中签率究竟是多少？老虎究竟是如何分配的？&nbsp;","text":"$库客音乐(KUKE)$ 这中签率究竟是多少？老虎究竟是如何分配的？","images":[{"img":"https://static.tigerbbs.com/55f0251cf746d521bb5d283ac4428c6d","width":"750","height":"1334"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/335131234","isVote":1,"tweetType":1,"viewCount":4138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":306214992,"gmtCreate":1604408150616,"gmtModify":1703832886545,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"党指挥枪！","listText":"党指挥枪！","text":"党指挥枪！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/306214992","repostId":"1187966711","repostType":4,"repost":{"id":"1187966711","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1604407949,"share":"https://www.laohu8.com/m/news/1187966711?lang=zh_CN&edition=full","pubTime":"2020-11-03 20:52","market":"hk","language":"zh","title":"阿里巴巴盘前暴跌！蚂蚁集团暂缓科创板上市","url":"https://stock-news.laohu8.com/highlight/detail?id=1187966711","media":"老虎资讯综合","summary":"上交所发布关于暂缓蚂蚁科技集团股份有限公司科创板上市的决定。上交所宣布暂缓蚂蚁集团上市，蚂蚁集团于上交所上市进程的网页，已被删除，科创版网站的多个页面，亦显示不存在。蚂蚁科技集团股份有限公司：你公司原申请于2020年11月5日在上海证券交易所科创板上市。你公司及保荐人应当依照规定作出公告，说明重大事项相关情况及你公司将暂缓上市。受此消息影响，阿里巴巴美股盘前下挫超5%。","content":"<p>上交所发布关于暂缓蚂蚁科技集团股份有限公司科创板上市的决定。上交所宣布暂缓蚂蚁集团上市，蚂蚁集团于上交所上市进程的网页，已被删除，科创版网站的多个页面，亦显示不存在。</p><p>蚂蚁科技集团股份有限公司：你公司原申请于2020年11月5日在上海证券交易所（以下简称本所）科创板上市。近日，发生你公司实际控制人及董事长、总经理被有关部门联合进行监管约谈，你公司也报告所处的金融科技监管环境发生变化等重大事项。该重大事项可能导致你公司不符合发行上市条件或者信息披露要求。根据《科创板首次公开发行股票注册管理办法（试行）》第二十六条和《上海证券交易所股票发行上市审核规则》第六十条等规定，并征询保荐机构的意见，本所决定你公司暂缓上市。你公司及保荐人应当依照规定作出公告，说明重大事项相关情况及你公司将暂缓上市。本所将与你公司及保荐人保持沟通。</p><p>上海证券交易所</p><p>二○二○年十一月三日</p><p><img src=\"https://static.tigerbbs.com/ab2f6518dcb079c4a4e744cd6d07ebf2\" tg-width=\"794\" tg-height=\"470\"></p><p>受此消息影响，阿里巴巴美股盘前下挫超5%。有投行人士指出，如果有公司在上市期间被监管约谈，属会后重大事项，应当被要求补充披露。“补充披露后可以再上市。</p><p><img 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solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n阿里巴巴盘前暴跌！蚂蚁集团暂缓科创板上市\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2020-11-03 20:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>上交所发布关于暂缓蚂蚁科技集团股份有限公司科创板上市的决定。上交所宣布暂缓蚂蚁集团上市，蚂蚁集团于上交所上市进程的网页，已被删除，科创版网站的多个页面，亦显示不存在。</p><p>蚂蚁科技集团股份有限公司：你公司原申请于2020年11月5日在上海证券交易所（以下简称本所）科创板上市。近日，发生你公司实际控制人及董事长、总经理被有关部门联合进行监管约谈，你公司也报告所处的金融科技监管环境发生变化等重大事项。该重大事项可能导致你公司不符合发行上市条件或者信息披露要求。根据《科创板首次公开发行股票注册管理办法（试行）》第二十六条和《上海证券交易所股票发行上市审核规则》第六十条等规定，并征询保荐机构的意见，本所决定你公司暂缓上市。你公司及保荐人应当依照规定作出公告，说明重大事项相关情况及你公司将暂缓上市。本所将与你公司及保荐人保持沟通。</p><p>上海证券交易所</p><p>二○二○年十一月三日</p><p><img src=\"https://static.tigerbbs.com/ab2f6518dcb079c4a4e744cd6d07ebf2\" tg-width=\"794\" tg-height=\"470\"></p><p>受此消息影响，阿里巴巴美股盘前下挫超5%。有投行人士指出，如果有公司在上市期间被监管约谈，属会后重大事项，应当被要求补充披露。“补充披露后可以再上市。</p><p><img src=\"https://static.tigerbbs.com/d7ed40c3ed3c911756485214d08b1bb7\" tg-width=\"840\" tg-height=\"606\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1684aaaa06891b8d2dd04a9941acb502","relate_stocks":{"06688":"蚂蚁集团"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187966711","content_text":"上交所发布关于暂缓蚂蚁科技集团股份有限公司科创板上市的决定。上交所宣布暂缓蚂蚁集团上市，蚂蚁集团于上交所上市进程的网页，已被删除，科创版网站的多个页面，亦显示不存在。蚂蚁科技集团股份有限公司：你公司原申请于2020年11月5日在上海证券交易所（以下简称本所）科创板上市。近日，发生你公司实际控制人及董事长、总经理被有关部门联合进行监管约谈，你公司也报告所处的金融科技监管环境发生变化等重大事项。该重大事项可能导致你公司不符合发行上市条件或者信息披露要求。根据《科创板首次公开发行股票注册管理办法（试行）》第二十六条和《上海证券交易所股票发行上市审核规则》第六十条等规定，并征询保荐机构的意见，本所决定你公司暂缓上市。你公司及保荐人应当依照规定作出公告，说明重大事项相关情况及你公司将暂缓上市。本所将与你公司及保荐人保持沟通。上海证券交易所二○二○年十一月三日受此消息影响，阿里巴巴美股盘前下挫超5%。有投行人士指出，如果有公司在上市期间被监管约谈，属会后重大事项，应当被要求补充披露。“补充披露后可以再上市。","news_type":1,"symbols_score_info":{"06688":0.9}},"isVote":1,"tweetType":1,"viewCount":2247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":970562253,"gmtCreate":1597840950472,"gmtModify":1704216937235,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/VIPS\">$唯品会(VIPS)$</a>今天能搞到20以下不[白眼]&nbsp;看看能甩掉多少浮尘","listText":"<a href=\"https://laohu8.com/S/VIPS\">$唯品会(VIPS)$</a>今天能搞到20以下不[白眼]&nbsp;看看能甩掉多少浮尘","text":"$唯品会(VIPS)$今天能搞到20以下不[白眼] 看看能甩掉多少浮尘","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/970562253","isVote":1,"tweetType":1,"viewCount":3881,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":951577342,"gmtCreate":1591003282486,"gmtModify":1704194010113,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"多少年了偶尔晨勃两分钟 还得意洋洋？人家都嗨咻嗨咻爽了多少次了！","listText":"多少年了偶尔晨勃两分钟 还得意洋洋？人家都嗨咻嗨咻爽了多少次了！","text":"多少年了偶尔晨勃两分钟 还得意洋洋？人家都嗨咻嗨咻爽了多少次了！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/951577342","repostId":"1139872162","repostType":4,"repost":{"id":"1139872162","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1591002496,"share":"https://www.laohu8.com/m/news/1139872162?lang=zh_CN&edition=full","pubTime":"2020-06-01 17:08","market":"hk","language":"zh","title":"市场综述：港、A股大爆发，美股来到“悬崖边”？","url":"https://stock-news.laohu8.com/highlight/detail?id=1139872162","media":"老虎资讯综合","summary":"恒生指数涨771.05点或3.36%，报23732.52点，全日成交额1507.53亿。","content":"<p><span><b>港股</b></span></p><p><span>6月1日，恒生指数大幅高开2.52%，随后一路走高。截至收盘，恒生指数涨771.05点或3.36%，报23732.52点，全日成交额1507.53亿。国企指数涨2.85%，报9833.83点，红筹指数涨3.58%，报3787.58点。</span></p><p><img src=\"https://static.tigerbbs.com/794e523e77cb992c1c262496a83afb08\" tg-width=\"840\" tg-height=\"470\"></p><p><span>中资券商股全线走强。截至收盘，<a href=\"https://laohu8.com/S/06066\">中信建投证券</a>涨8.04%，<a href=\"https://laohu8.com/S/06837\">海通证券</a>涨5.97%，<a href=\"https://laohu8.com/S/03908\">中金公司</a>涨5.74%，<a href=\"https://laohu8.com/S/02611\">国泰君安</a>涨5.11%。</span></p><p><span>内房股全线大涨。截至收盘，<a href=\"https://laohu8.com/S/01233\">时代中国控股</a>涨10.92%，<a href=\"https://laohu8.com/S/00884\">旭辉控股集团</a>涨9.87%，<a href=\"https://laohu8.com/S/01918\">融创中国</a>涨8.65%，<a href=\"https://laohu8.com/S/03883\">中国奥园</a>涨7.54%。</span></p><p><span><a href=\"https://laohu8.com/S/00699\">神州租车</a>公告，北汽集团将向神州优车收购不多于4.5亿股股份，相当于本公司于本公告日期已发行股本总额约21.26%。市场人士表示，交易完成后，北汽集团将成为<a href=\"https://laohu8.com/S/00699\">神州租车</a>第一大股东，而陆正耀为首的神州优车将全面退出。截至收盘，神州租车涨23.33%，报2.22港元。</span></p><p><img src=\"https://static.tigerbbs.com/1f7b953e97f5c3c62b01c22f33314b7b\" tg-width=\"840\" tg-height=\"470\"></p><p>中概股回港进程：<b><span>已于上周四通过港交所聆讯的<a href=\"https://laohu8.com/S/NTES\">网易</a>今日（6月1日）将为在港二次上市开启簿记建档，并在6月2日至5日进行公开招股，6月11日正式在港交所挂牌上市</span></b><span>。</span></p><p><span><b>A股</b></span></p><p><span>在周末消息面与政策面偏于积极的情况下，今日沪深两市均大幅高开，资金入场颇为积极，推动大盘震荡上行。午后上证综指最高上攻到了2917点，为近两个多月以来的反弹高点。</span></p><p><span>截至收盘，沪指涨2.21%，报2915.43点；深成指涨3.31%，报11102.15点；创业板指涨3.43%，报2158.22点。</span></p><p><span>券商、科技股持续回暖，消费电子板块表现强势，此外网红、白酒等板块均有不俗表现。</span></p><p>今日<span><a href=\"https://laohu8.com/S/600519\">贵州茅台</a>高开高走，股价一路攀升最高达到1420元/股，创历史新高，给A股其他公司带了个“好头”。截至收盘，报收1419.50元/股。</span></p><p><img src=\"https://static.tigerbbs.com/2611cc070407bb515bb88455a9dcdc07\" tg-width=\"840\" tg-height=\"470\"></p><p><span><b>美股</b></span></p><p><span><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>调低了其对美股的看涨立场，因其认为未来几个月内（7月和8月间）风险可能进一步扩大，并建议美股投资者通过届时到期的期权来覆盖多头股票头寸，进而增加保护。</span></p><p><span>盘前时段，美股三大股指期货集体下跌。截至发稿，道琼斯30指数期货跌</span>幅0.21<span>%；标普500指数期货跌幅</span>0.23<span>%；纳斯达克100指数期货跌</span>幅0.46<span>%。</span></p><p><a href=\"https://laohu8.com/S/LK\">瑞幸咖啡</a>盘前跌超4%。</p><p><span><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>盘前涨超3%。美国当地时间5月30日，<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>CEO埃隆·马斯克创办的SpaceX用自己的猎鹰9火箭成功将二代龙飞船送上了太空。</span></p><p><a href=\"https://laohu8.com/S/TGT\">塔吉特</a>盘前跌10%，受骚乱影响，公司宣布暂时关闭175家门店。</p><p><a href=\"https://laohu8.com/S/SPCE\">维珍银河</a>盘前涨近11%，SpaceX首发成功，资本市场聚焦商业发射。</p><p><span><b>欧股</b></span></p><p><span>欧洲主要股市涨跌不一。</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33593430975463d919650156e1e8c9ff\" tg-width=\"692\" tg-height=\"198\"><span>来源：英为财情Investing.com</span></p><p><span><b>原油</b></span></p><p>国际油价震荡。<span>随着油价上涨，美国石油开采商放缓了减产速度，此举或将阻碍石油市场复苏。截至发稿，美国WTI原油报35.47美元/桶，涨幅0.06%；伦敦布伦特原油报37.98美元/桶，涨幅0.37%。</span></p><p><span><b>黄金</b></span></p><p><span>国际金价盘中回落。美国主要城市发生暴动，提升黄金的避险需求，美元走软也提供进一步支撑。截至发稿，国际金价报1749.15美元，跌幅0.15%。</span></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>市场综述：港、A股大爆发，美股来到“悬崖边”？</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n市场综述：港、A股大爆发，美股来到“悬崖边”？\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2020-06-01 17:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><span><b>港股</b></span></p><p><span>6月1日，恒生指数大幅高开2.52%，随后一路走高。截至收盘，恒生指数涨771.05点或3.36%，报23732.52点，全日成交额1507.53亿。国企指数涨2.85%，报9833.83点，红筹指数涨3.58%，报3787.58点。</span></p><p><img src=\"https://static.tigerbbs.com/794e523e77cb992c1c262496a83afb08\" tg-width=\"840\" tg-height=\"470\"></p><p><span>中资券商股全线走强。截至收盘，<a href=\"https://laohu8.com/S/06066\">中信建投证券</a>涨8.04%，<a href=\"https://laohu8.com/S/06837\">海通证券</a>涨5.97%，<a href=\"https://laohu8.com/S/03908\">中金公司</a>涨5.74%，<a href=\"https://laohu8.com/S/02611\">国泰君安</a>涨5.11%。</span></p><p><span>内房股全线大涨。截至收盘，<a href=\"https://laohu8.com/S/01233\">时代中国控股</a>涨10.92%，<a href=\"https://laohu8.com/S/00884\">旭辉控股集团</a>涨9.87%，<a href=\"https://laohu8.com/S/01918\">融创中国</a>涨8.65%，<a href=\"https://laohu8.com/S/03883\">中国奥园</a>涨7.54%。</span></p><p><span><a href=\"https://laohu8.com/S/00699\">神州租车</a>公告，北汽集团将向神州优车收购不多于4.5亿股股份，相当于本公司于本公告日期已发行股本总额约21.26%。市场人士表示，交易完成后，北汽集团将成为<a href=\"https://laohu8.com/S/00699\">神州租车</a>第一大股东，而陆正耀为首的神州优车将全面退出。截至收盘，神州租车涨23.33%，报2.22港元。</span></p><p><img src=\"https://static.tigerbbs.com/1f7b953e97f5c3c62b01c22f33314b7b\" tg-width=\"840\" tg-height=\"470\"></p><p>中概股回港进程：<b><span>已于上周四通过港交所聆讯的<a href=\"https://laohu8.com/S/NTES\">网易</a>今日（6月1日）将为在港二次上市开启簿记建档，并在6月2日至5日进行公开招股，6月11日正式在港交所挂牌上市</span></b><span>。</span></p><p><span><b>A股</b></span></p><p><span>在周末消息面与政策面偏于积极的情况下，今日沪深两市均大幅高开，资金入场颇为积极，推动大盘震荡上行。午后上证综指最高上攻到了2917点，为近两个多月以来的反弹高点。</span></p><p><span>截至收盘，沪指涨2.21%，报2915.43点；深成指涨3.31%，报11102.15点；创业板指涨3.43%，报2158.22点。</span></p><p><span>券商、科技股持续回暖，消费电子板块表现强势，此外网红、白酒等板块均有不俗表现。</span></p><p>今日<span><a href=\"https://laohu8.com/S/600519\">贵州茅台</a>高开高走，股价一路攀升最高达到1420元/股，创历史新高，给A股其他公司带了个“好头”。截至收盘，报收1419.50元/股。</span></p><p><img src=\"https://static.tigerbbs.com/2611cc070407bb515bb88455a9dcdc07\" tg-width=\"840\" tg-height=\"470\"></p><p><span><b>美股</b></span></p><p><span><a href=\"https://laohu8.com/S/JPM\">摩根大通</a>调低了其对美股的看涨立场，因其认为未来几个月内（7月和8月间）风险可能进一步扩大，并建议美股投资者通过届时到期的期权来覆盖多头股票头寸，进而增加保护。</span></p><p><span>盘前时段，美股三大股指期货集体下跌。截至发稿，道琼斯30指数期货跌</span>幅0.21<span>%；标普500指数期货跌幅</span>0.23<span>%；纳斯达克100指数期货跌</span>幅0.46<span>%。</span></p><p><a href=\"https://laohu8.com/S/LK\">瑞幸咖啡</a>盘前跌超4%。</p><p><span><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>盘前涨超3%。美国当地时间5月30日，<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>CEO埃隆·马斯克创办的SpaceX用自己的猎鹰9火箭成功将二代龙飞船送上了太空。</span></p><p><a href=\"https://laohu8.com/S/TGT\">塔吉特</a>盘前跌10%，受骚乱影响，公司宣布暂时关闭175家门店。</p><p><a href=\"https://laohu8.com/S/SPCE\">维珍银河</a>盘前涨近11%，SpaceX首发成功，资本市场聚焦商业发射。</p><p><span><b>欧股</b></span></p><p><span>欧洲主要股市涨跌不一。</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33593430975463d919650156e1e8c9ff\" tg-width=\"692\" tg-height=\"198\"><span>来源：英为财情Investing.com</span></p><p><span><b>原油</b></span></p><p>国际油价震荡。<span>随着油价上涨，美国石油开采商放缓了减产速度，此举或将阻碍石油市场复苏。截至发稿，美国WTI原油报35.47美元/桶，涨幅0.06%；伦敦布伦特原油报37.98美元/桶，涨幅0.37%。</span></p><p><span><b>黄金</b></span></p><p><span>国际金价盘中回落。美国主要城市发生暴动，提升黄金的避险需求，美元走软也提供进一步支撑。截至发稿，国际金价报1749.15美元，跌幅0.15%。</span></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5d11890cd6ccd454a56d86737fd3353","relate_stocks":{"HSI":"恒生指数","000001.SH":"上证指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139872162","content_text":"港股6月1日，恒生指数大幅高开2.52%，随后一路走高。截至收盘，恒生指数涨771.05点或3.36%，报23732.52点，全日成交额1507.53亿。国企指数涨2.85%，报9833.83点，红筹指数涨3.58%，报3787.58点。中资券商股全线走强。截至收盘，中信建投证券涨8.04%，海通证券涨5.97%，中金公司涨5.74%，国泰君安涨5.11%。内房股全线大涨。截至收盘，时代中国控股涨10.92%，旭辉控股集团涨9.87%，融创中国涨8.65%，中国奥园涨7.54%。神州租车公告，北汽集团将向神州优车收购不多于4.5亿股股份，相当于本公司于本公告日期已发行股本总额约21.26%。市场人士表示，交易完成后，北汽集团将成为神州租车第一大股东，而陆正耀为首的神州优车将全面退出。截至收盘，神州租车涨23.33%，报2.22港元。中概股回港进程：已于上周四通过港交所聆讯的网易今日（6月1日）将为在港二次上市开启簿记建档，并在6月2日至5日进行公开招股，6月11日正式在港交所挂牌上市。A股在周末消息面与政策面偏于积极的情况下，今日沪深两市均大幅高开，资金入场颇为积极，推动大盘震荡上行。午后上证综指最高上攻到了2917点，为近两个多月以来的反弹高点。截至收盘，沪指涨2.21%，报2915.43点；深成指涨3.31%，报11102.15点；创业板指涨3.43%，报2158.22点。券商、科技股持续回暖，消费电子板块表现强势，此外网红、白酒等板块均有不俗表现。今日贵州茅台高开高走，股价一路攀升最高达到1420元/股，创历史新高，给A股其他公司带了个“好头”。截至收盘，报收1419.50元/股。美股摩根大通调低了其对美股的看涨立场，因其认为未来几个月内（7月和8月间）风险可能进一步扩大，并建议美股投资者通过届时到期的期权来覆盖多头股票头寸，进而增加保护。盘前时段，美股三大股指期货集体下跌。截至发稿，道琼斯30指数期货跌幅0.21%；标普500指数期货跌幅0.23%；纳斯达克100指数期货跌幅0.46%。瑞幸咖啡盘前跌超4%。特斯拉盘前涨超3%。美国当地时间5月30日，特斯拉CEO埃隆·马斯克创办的SpaceX用自己的猎鹰9火箭成功将二代龙飞船送上了太空。塔吉特盘前跌10%，受骚乱影响，公司宣布暂时关闭175家门店。维珍银河盘前涨近11%，SpaceX首发成功，资本市场聚焦商业发射。欧股欧洲主要股市涨跌不一。来源：英为财情Investing.com原油国际油价震荡。随着油价上涨，美国石油开采商放缓了减产速度，此举或将阻碍石油市场复苏。截至发稿，美国WTI原油报35.47美元/桶，涨幅0.06%；伦敦布伦特原油报37.98美元/桶，涨幅0.37%。黄金国际金价盘中回落。美国主要城市发生暴动，提升黄金的避险需求，美元走软也提供进一步支撑。截至发稿，国际金价报1749.15美元，跌幅0.15%。","news_type":1,"symbols_score_info":{"HSI":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":791,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":335686338,"gmtCreate":1610587486924,"gmtModify":1703745408219,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"更不正当的还有 中石油 中国移动 这些老流氓 请一并查处了吧[开心]&nbsp;","listText":"更不正当的还有 中石油 中国移动 这些老流氓 请一并查处了吧[开心]&nbsp;","text":"更不正当的还有 中石油 中国移动 这些老流氓 请一并查处了吧[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/335686338","repostId":"1137571988","repostType":4,"repost":{"id":"1137571988","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1610586481,"share":"https://www.laohu8.com/m/news/1137571988?lang=zh_CN&edition=full","pubTime":"2021-01-14 09:08","market":"us","language":"zh","title":"市场监管总局对唯品会涉嫌不正当竞争立案调查","url":"https://stock-news.laohu8.com/highlight/detail?id=1137571988","media":"老虎资讯综合","summary":"据新华视点，近日，市场监管总局根据举报，依法对唯品会（中国）有限公司、广州唯品会电子商务有限公司涉嫌实施不正当竞争行为立案调查。 唯品会回应称，将积极配合监管部门调查。","content":"<p>据新华视点，近日，市场监管总局根据举报，依法对<a href=\"https://laohu8.com/S/VIPS\">唯品会</a>（中国）有限公司、广州唯品会电子商务有限公司涉嫌实施不正当竞争行为立案调查。 唯品会回应称，将积极配合监管部门调查。</p><p><img src=\"https://static.tigerbbs.com/f5095255490163b7dde5bb0bee732676\" tg-width=\"840\" tg-height=\"470\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>市场监管总局对唯品会涉嫌不正当竞争立案调查</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; 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href=\"https://laohu8.com/S/VIPS\">唯品会</a>（中国）有限公司、广州唯品会电子商务有限公司涉嫌实施不正当竞争行为立案调查。 唯品会回应称，将积极配合监管部门调查。</p><p><img src=\"https://static.tigerbbs.com/f5095255490163b7dde5bb0bee732676\" tg-width=\"840\" tg-height=\"470\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7400004a38e238ad9810acb7141e78de","relate_stocks":{"VIPS":"唯品会"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137571988","content_text":"据新华视点，近日，市场监管总局根据举报，依法对唯品会（中国）有限公司、广州唯品会电子商务有限公司涉嫌实施不正当竞争行为立案调查。 唯品会回应称，将积极配合监管部门调查。","news_type":1,"symbols_score_info":{"VIPS":0.9}},"isVote":1,"tweetType":1,"viewCount":1528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":331790172,"gmtCreate":1609760365796,"gmtModify":1703740276386,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"希望劳动法不要成了资本的遮羞布","listText":"希望劳动法不要成了资本的遮羞布","text":"希望劳动法不要成了资本的遮羞布","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/331790172","repostId":"1129314995","repostType":4,"repost":{"id":"1129314995","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1609751974,"share":"https://www.laohu8.com/m/news/1129314995?lang=zh_CN&edition=full","pubTime":"2021-01-04 17:19","market":"us","language":"zh","title":"一女员工猝死，上海有关部门将调查拼多多用工情况","url":"https://stock-news.laohu8.com/highlight/detail?id=1129314995","media":"老虎资讯综合","summary":"记者从上海市长宁区劳动保障监察大队获悉，接到网络舆情后，劳动保障监察部门已对拼多多公司的劳动用工情况进行调查，会对该公司用人合同、用工时间等情况进行检查。此前，拼多多发布关于98后员工张某霏意外离世的","content":"<p>记者从上海市长宁区劳动保障监察大队获悉，接到网络舆情后，劳动保障监察部门已对<a href=\"https://laohu8.com/S/PDD\">拼多多</a>公司的劳动用工情况进行调查，会对该公司用人合同、用工时间等情况进行检查。</p><p>此前，拼多多发布关于98后员工张某霏意外离世的说明：该女员工名为张某霏，2019年7月入职拼多多。拼多多还表示，公司同事一直陪伴家属，遵父母意愿，张某霏于1月3日火化，公司也不对外发公告。征得张某霏父母同意，父亲的朋友圈截图附后。在此也恳请各位关心张某霏的朋友和公众，不要相信各种网传截图和所谓的“拼多多回应”。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>一女员工猝死，上海有关部门将调查拼多多用工情况</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n一女员工猝死，上海有关部门将调查拼多多用工情况\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-01-04 17:19</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>记者从上海市长宁区劳动保障监察大队获悉，接到网络舆情后，劳动保障监察部门已对<a href=\"https://laohu8.com/S/PDD\">拼多多</a>公司的劳动用工情况进行调查，会对该公司用人合同、用工时间等情况进行检查。</p><p>此前，拼多多发布关于98后员工张某霏意外离世的说明：该女员工名为张某霏，2019年7月入职拼多多。拼多多还表示，公司同事一直陪伴家属，遵父母意愿，张某霏于1月3日火化，公司也不对外发公告。征得张某霏父母同意，父亲的朋友圈截图附后。在此也恳请各位关心张某霏的朋友和公众，不要相信各种网传截图和所谓的“拼多多回应”。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a2db5797ca32628002f32e69d5dea58b","relate_stocks":{"PDD":"拼多多"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129314995","content_text":"记者从上海市长宁区劳动保障监察大队获悉，接到网络舆情后，劳动保障监察部门已对拼多多公司的劳动用工情况进行调查，会对该公司用人合同、用工时间等情况进行检查。此前，拼多多发布关于98后员工张某霏意外离世的说明：该女员工名为张某霏，2019年7月入职拼多多。拼多多还表示，公司同事一直陪伴家属，遵父母意愿，张某霏于1月3日火化，公司也不对外发公告。征得张某霏父母同意，父亲的朋友圈截图附后。在此也恳请各位关心张某霏的朋友和公众，不要相信各种网传截图和所谓的“拼多多回应”。","news_type":1,"symbols_score_info":{"PDD":0.9}},"isVote":1,"tweetType":1,"viewCount":1531,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":496512136340256,"gmtCreate":1762241560262,"gmtModify":1762241562534,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"title":"","htmlText":"标题党[喷血]&nbsp;&nbsp;","listText":"标题党[喷血]&nbsp;&nbsp;","text":"标题党[喷血]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/496512136340256","repostId":"1145818375","repostType":2,"repost":{"id":"1145818375","kind":"news","pubTimestamp":1762240875,"share":"https://www.laohu8.com/m/news/1145818375?lang=zh_CN&edition=full","pubTime":"2025-11-04 15:21","market":"us","language":"zh","title":"特斯拉股东大会前夕，马斯克天价薪酬方案遭挪威主权财富基金公开反对","url":"https://stock-news.laohu8.com/highlight/detail?id=1145818375","media":"智通财经网","summary":"成为首个对该方案做出决定的主要投资者。","content":"<html><head></head><body><p>作为 <a href=\"https://laohu8.com/S/TSLA\">特斯拉</a> 第九大股东的挪威主权财富基金投票反对特斯拉为其首席执行官埃隆·马斯克提供的史无前例的1万亿美元薪酬方案。这是目前来自特斯拉大股东之一的最强烈反对信号。截至发稿，特斯拉周二美股盘前跌超2%。</p><p style=\"text-align: justify;\">由挪威央行投资管理公司(NBIM)运营的挪威主权财富基金在其官网中表示：“尽管我们认可马斯克以其远见卓识为公司创造了巨大的价值，但我们对该奖励方案的总体规模、稀释效应以及缺乏关键人物风险缓解措施表示担忧。”</p><p style=\"text-align: justify;\">据悉，挪威主权财富基金此前也曾投票反对马斯克的薪酬方案。该方案于去年6月获股东再次批准，但随后被特拉华州法院裁定无效。特斯拉董事会在提起上诉的同时，又重新为马斯克设计了新的奖励方案。</p><p style=\"text-align: justify;\">此外，该基金还反对股东提议特斯拉投资马斯克的人工智能初创公司xAI，并反对艾拉·埃伦普瑞斯(Ira Ehrenpreis)和凯瑟琳·威尔逊-汤普森(Kathleen Wilson-Thompson)连任特斯拉董事会成员。该基金支持的一位即将连任的董事是爱彼迎的联合创始人乔•杰比亚(Joe Gebbia)。</p><p style=\"text-align: justify;\">该基金在解释反对两位董事连任的投票理由时写道：“当董事会未能以股东的最佳利益为导向行事时，股东应有权寻求对董事会作出调整。”该基金未说明其反对特斯拉投资xAI的原因，也未解释支持杰比亚连任的理由。</p><p style=\"text-align: justify;\"><strong>特斯拉股东大会召开在即</strong></p><p style=\"text-align: justify;\">特斯拉将于美东时间11月6日召开年度股东大会，届时将对9月提出的一份高达1万亿美元的薪酬方案进行表决。该薪酬方案显示，如果马斯克实现一系列业绩目标，他将获得最高达1万亿美元的股票奖励。这些目标包括：特斯拉市值达到8.5万亿美元、销售1200万辆汽车、交付100万台人形机器人、投放100万辆自动驾驶出租车(Robotaxi)，以及将调整后盈利从2024年的166亿美元提高至4000亿美元。</p><p style=\"text-align: justify;\">若获通过，这将成为企业史上规模最大的薪酬方案。此外，如果该薪酬方案获通过，马斯克在特斯拉的持股比例将从13%提升至近29%，这将赋予他更大的控制权。</p><p style=\"text-align: justify;\">不过，这项薪酬提案引发机构股东服务公司(ISS)等代理咨询机构的批评。ISS呼吁投资者投反对票，理由是该方案规模过于庞大且缺乏有效约束机制。</p><p style=\"text-align: justify;\">与此同时，特斯拉董事长丹霍姆(Robyn Denholm)在上周一致股东的一封信中警告称，如果马斯克的1万亿美元薪酬方案未获批准，这位首席执行官可能会离开特斯拉。丹霍姆在股东信中呼吁投票支持这份薪酬方案，并敦促投资者重新选举三位与马斯克密切合作的资深董事。她表示，这一基于业绩的薪酬方案旨在留住并激励马斯克，让他在未来至少再领导特斯拉七年半。</p><p style=\"text-align: justify;\">丹霍姆指出，随着特斯拉致力于成为全球人工智能(AI)与自动驾驶技术的领导者，马斯克的角色尤为关键。她补充称，马斯克的领导对特斯拉的成功“至关重要”，并警告如果没有一个能有效激励马斯克的计划，公司可能会失去他的“时间、才华与远见”。</p><p style=\"text-align: justify;\">丹霍姆还表示：“他一直在坚持这一观点——未来应确保自己在特斯拉拥有足够的投票影响力，以防止AI相关的坏事发生。因此，这次薪酬方案的核心并非金钱，而是投票权的影响力。”</p><p style=\"text-align: justify;\">值得一提的是，特斯拉董事会近年来一直因与马斯克关系过于密切而受到外界批评，并被指未能充分维护股东利益，而治理专家和维权团体也对其独立性及对马斯克影响力的监督提出质疑。今年早些时候，特拉华州法院撤销了马斯克2018年的薪酬协议，裁定该协议授予不当，且谈判过程由缺乏独立性的董事主导。</p></body></html>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>特斯拉股东大会前夕，马斯克天价薪酬方案遭挪威主权财富基金公开反对</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n特斯拉股东大会前夕，马斯克天价薪酬方案遭挪威主权财富基金公开反对\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-04 15:21 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.zhitongcaijing.com/content/detail/1365160.html><strong>智通财经网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作为 特斯拉 第九大股东的挪威主权财富基金投票反对特斯拉为其首席执行官埃隆·马斯克提供的史无前例的1万亿美元薪酬方案。这是目前来自特斯拉大股东之一的最强烈反对信号。截至发稿，特斯拉周二美股盘前跌超2%。由挪威央行投资管理公司(NBIM)运营的挪威主权财富基金在其官网中表示：“尽管我们认可马斯克以其远见卓识为公司创造了巨大的价值，但我们对该奖励方案的总体规模、稀释效应以及缺乏关键人物风险缓解措施表示...</p>\n\n<a href=\"https://www.zhitongcaijing.com/content/detail/1365160.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9e3988a75d33e2b4f95370655c056098","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.zhitongcaijing.com/content/detail/1365160.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1145818375","content_text":"作为 特斯拉 第九大股东的挪威主权财富基金投票反对特斯拉为其首席执行官埃隆·马斯克提供的史无前例的1万亿美元薪酬方案。这是目前来自特斯拉大股东之一的最强烈反对信号。截至发稿，特斯拉周二美股盘前跌超2%。由挪威央行投资管理公司(NBIM)运营的挪威主权财富基金在其官网中表示：“尽管我们认可马斯克以其远见卓识为公司创造了巨大的价值，但我们对该奖励方案的总体规模、稀释效应以及缺乏关键人物风险缓解措施表示担忧。”据悉，挪威主权财富基金此前也曾投票反对马斯克的薪酬方案。该方案于去年6月获股东再次批准，但随后被特拉华州法院裁定无效。特斯拉董事会在提起上诉的同时，又重新为马斯克设计了新的奖励方案。此外，该基金还反对股东提议特斯拉投资马斯克的人工智能初创公司xAI，并反对艾拉·埃伦普瑞斯(Ira Ehrenpreis)和凯瑟琳·威尔逊-汤普森(Kathleen Wilson-Thompson)连任特斯拉董事会成员。该基金支持的一位即将连任的董事是爱彼迎的联合创始人乔•杰比亚(Joe Gebbia)。该基金在解释反对两位董事连任的投票理由时写道：“当董事会未能以股东的最佳利益为导向行事时，股东应有权寻求对董事会作出调整。”该基金未说明其反对特斯拉投资xAI的原因，也未解释支持杰比亚连任的理由。特斯拉股东大会召开在即特斯拉将于美东时间11月6日召开年度股东大会，届时将对9月提出的一份高达1万亿美元的薪酬方案进行表决。该薪酬方案显示，如果马斯克实现一系列业绩目标，他将获得最高达1万亿美元的股票奖励。这些目标包括：特斯拉市值达到8.5万亿美元、销售1200万辆汽车、交付100万台人形机器人、投放100万辆自动驾驶出租车(Robotaxi)，以及将调整后盈利从2024年的166亿美元提高至4000亿美元。若获通过，这将成为企业史上规模最大的薪酬方案。此外，如果该薪酬方案获通过，马斯克在特斯拉的持股比例将从13%提升至近29%，这将赋予他更大的控制权。不过，这项薪酬提案引发机构股东服务公司(ISS)等代理咨询机构的批评。ISS呼吁投资者投反对票，理由是该方案规模过于庞大且缺乏有效约束机制。与此同时，特斯拉董事长丹霍姆(Robyn Denholm)在上周一致股东的一封信中警告称，如果马斯克的1万亿美元薪酬方案未获批准，这位首席执行官可能会离开特斯拉。丹霍姆在股东信中呼吁投票支持这份薪酬方案，并敦促投资者重新选举三位与马斯克密切合作的资深董事。她表示，这一基于业绩的薪酬方案旨在留住并激励马斯克，让他在未来至少再领导特斯拉七年半。丹霍姆指出，随着特斯拉致力于成为全球人工智能(AI)与自动驾驶技术的领导者，马斯克的角色尤为关键。她补充称，马斯克的领导对特斯拉的成功“至关重要”，并警告如果没有一个能有效激励马斯克的计划，公司可能会失去他的“时间、才华与远见”。丹霍姆还表示：“他一直在坚持这一观点——未来应确保自己在特斯拉拥有足够的投票影响力，以防止AI相关的坏事发生。因此，这次薪酬方案的核心并非金钱，而是投票权的影响力。”值得一提的是，特斯拉董事会近年来一直因与马斯克关系过于密切而受到外界批评，并被指未能充分维护股东利益，而治理专家和维权团体也对其独立性及对马斯克影响力的监督提出质疑。今年早些时候，特拉华州法院撤销了马斯克2018年的薪酬协议，裁定该协议授予不当，且谈判过程由缺乏独立性的董事主导。","news_type":1,"symbols_score_info":{"TSLA":2}},"isVote":1,"tweetType":1,"viewCount":1425,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4197501899611212","authorId":"4197501899611212","name":"Y.is","avatar":"https://static.tigerbbs.com/7870baab54008189f9f1ce3dfc25d09f","crmLevel":2,"crmLevelSwitch":0,"idStr":"4197501899611212","authorIdStr":"4197501899611212"},"content":"确实好恶心，这种垃圾小编","text":"确实好恶心，这种垃圾小编","html":"确实好恶心，这种垃圾小编"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":634649277,"gmtCreate":1647491542001,"gmtModify":1647491542001,"author":{"id":"3550884934656926","authorId":"3550884934656926","name":"重庆老赵","avatar":"https://static.tigerbbs.com/b717addd899a8536a2ef46813ee6e613","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3550884934656926","authorIdStr":"3550884934656926"},"themes":[],"htmlText":"100刀跌至20刀的小型股灾&nbsp;20刀涨40个点的绝地反击[笑哭]&nbsp;","listText":"100刀跌至20刀的小型股灾&nbsp;20刀涨40个点的绝地反击[笑哭]&nbsp;","text":"100刀跌至20刀的小型股灾 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11:33","market":"sh","language":"zh","title":"2022年海外中资股展望：价值崛起！","url":"https://stock-news.laohu8.com/highlight/detail?id=1177700936","media":"中信证券研究","summary":"以港股为代表的海外上市中国公司估值已处于历史底部，恒生指数接近“破净”，A/H折溢价目前在145左右，相对A股折价接近历史最高点。展望2022年，我们预计监管政策将趋于常态化。本轮监管对互联网等行业产","content":"<p>以港股为代表的海外上市中国公司估值已处于历史底部，恒生指数接近“破净”，A/H折溢价目前在145左右，相对A股折价接近历史最高点。展望2022年，我们预计监管政策将趋于常态化。本轮监管对互联网等行业产生深远影响，但强监管下市场会更快进入“去伪求真”（参考2018年医药经历“集采”后创新药崛起）。境外对地产企业无序违约担忧将逐步释放，地产调控的关注点也会从信用风险转向更中长期如“房产税”等制度建设。我们预计MSCI China明年盈利增速将达到11%（vs 一致预期12% in 2021），恒生指数盈利增速将达12%（vs一致预期2% in 2021）。“再通胀”依旧是主线，但明年的关注点将切换到CPI及消费品涨价。产业升级是发展的大趋势，中国核心优势还是先进制造力。监管政策的引导下，资本市场估值也将有所体现，持续看好高景气高资本开支行业：工业数字化（云计算），新能源，半导体，CXO等，但从投资角度，我们会更注重其在内在业绩增长的持续性和目前估值匹配度。</p>\n<p><b>以港股为代表的海外上市中国公司估值已处于历史底部，但内部结构分化仍很严重。</b></p>\n<p>受到“反垄断”，“双减”及地产政策等影响，今年以来海外上市的中国“核心资产”普遍表现不佳，而顺周期，新能源相关的表现相对较好，板块内结构出现明显分化。港股恒生指数在8月以来接近“破净”，如考虑2020年恒生指数纳入阿里巴巴、美团等对权重的影响，估值更低。相较于A股， A/H折溢价目前在145左右，接近历史最高点。我们认为，整体而言市场已充分反映或可能过多反映负面情绪，而投资者又拥挤交易在有限的板块：国潮品牌、新能源运营商、CXO等。</p>\n<p><b>展望2022年，风险逐步落地，监管常态化将有助于估值修复，特别对政策强监管行业及产业链。</b></p>\n<p>2022年，我们预计监管政策将趋于常态化，总体以“稳”为主。境外对地产企业无序违约担忧将逐步释放，地产调控的关注点也将从信用风险转向更中长期如“房产税”等制度建设议题，有利于降低整体尾部风险。本轮监管政策密集落地，对互联网等行业产生深远影响，强监管下市场会更快进入“去伪求真”的阶段（参考2018年医疗行业经历“集采”过后，真正具备创新能力的药企崛起），创新是科技或互联网永恒主线。我们预计在《个人信息保护法》等法规相继落地后，具备良好公司治理能力的公司有望脱颖而出。地产行业在信用压力下，我们看到其下属物业板块通过兼并重组，集中度有望迅速提升，利好龙头公司。</p>\n<p><b>“再通胀”依旧是主线，但明年的关注将切换到CPI及消费品涨价。</b></p>\n<p>我们预计MSCI China明年盈利增速将达到11%（vs一致预期12% in 2021），恒生指数盈利增速将达12% （vs一致预期2% in 2021）。消费今年明显受到压制，汽车缺芯等供给侧问题也影响整体消费增速，上游端成本压力进一步影响盈利水平。明年通胀环境下，我们预计PPI端的涨价压力将逐步向CPI传导，部分调味品、酒的涨价今年已经有所端倪，明年必选消费品中养殖、食品饮料等各类细分品种涨价逻辑或成为贯穿全年投资主线。2021年局部散点疫情抑制了国内消费场景的复苏，但参考今年“五一”期间全国未出现大范围疫情的情况下，酒店龙头RevPAR均恢复至2019年同期水平，甚至更优。叠加明年潜在的通关预期，国内服务相关消费或有超预期可能。</p>\n<p><b>创新不眠，产业升级是中国发展的大趋势，中国核心优势还是先进制造力，在监管政策的引导下，资本市场估值也将有所体现。我们持续关注高景气、高资本开支的工业数字化（云计算）、新能源、半导体、CXO等。</b></p>\n<p>疫情对数字化加速有不可逆的影响，中国的产业升级也因“碳中和”明显加速。在MSCI China细分赛道中，动力电池、光伏、半导体、CXO、电子元器件、军工等细分赛道过去几年资本开支始终处于上行阶段，未来数年内有望逐渐进入业绩兑现期。但这些高景气赛道普遍处于较高估值分位，我们将更注重其业绩增长的持续性和估值的匹配度。</p>\n<p><b>风险因素：</b></p>\n<p>中美关系恶化风险，中国及全球宏观经济修复不及预期，国内流动性收紧，房地产企业信用风险持续发酵，相关产业政策不达预期风险。</p>\n<p><b>投资策略：</b></p>\n<p>展望明年，我们在投资上聚焦3条主线：消费品涨价、碳中和及创新转型（数字化和CXO）。由于目前市场个别板块处在极限低估位置，我们同时加入部分高分红的低估值个股。结合行业分析师推荐，我们看好海外上市中资股中的腾讯控股、百度集团-SW、阿里巴巴-SW、华虹半导体、舜宇光学科技、碧桂园服务、华润万象生活、吉利汽车、福耀玻璃、JS环球生活、华住酒店-SW、蒙牛乳业、药明康德、邮储银行、赣锋锂业、金风科技、海吉亚医疗、华润电力、广发证券、港交所，A股中的温氏股份、大北农、绝味食品、贵州茅台、珀莱雅、北新建材、长城汽车、拓普集团、通威股份、大全能源、晶盛机电、奥特维、亿纬锂能、新宙邦、深信服、歌尔股份、紫光国微、石基信息、迈瑞医疗、三花智控。</p>","source":"zxzqyj","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2022年海外中资股展望：价值崛起！</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2022年海外中资股展望：价值崛起！\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-09 11:33 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/K91jMN5L4_4dCaJKNt57Jg><strong>中信证券研究</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>以港股为代表的海外上市中国公司估值已处于历史底部，恒生指数接近“破净”，A/H折溢价目前在145左右，相对A股折价接近历史最高点。展望2022年，我们预计监管政策将趋于常态化。本轮监管对互联网等行业产生深远影响，但强监管下市场会更快进入“去伪求真”（参考2018年医药经历“集采”后创新药崛起）。境外对地产企业无序违约担忧将逐步释放，地产调控的关注点也会从信用风险转向更中长期如“房产税”等制度建设。...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/K91jMN5L4_4dCaJKNt57Jg\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e68f18a297e419bae3cc0320b6d8ff4e","relate_stocks":{"HSCCI":"红筹指数","HSTECH":"恒生科技指数","HSI":"恒生指数","HSCEI":"国企指数"},"source_url":"https://mp.weixin.qq.com/s/K91jMN5L4_4dCaJKNt57Jg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177700936","content_text":"以港股为代表的海外上市中国公司估值已处于历史底部，恒生指数接近“破净”，A/H折溢价目前在145左右，相对A股折价接近历史最高点。展望2022年，我们预计监管政策将趋于常态化。本轮监管对互联网等行业产生深远影响，但强监管下市场会更快进入“去伪求真”（参考2018年医药经历“集采”后创新药崛起）。境外对地产企业无序违约担忧将逐步释放，地产调控的关注点也会从信用风险转向更中长期如“房产税”等制度建设。我们预计MSCI China明年盈利增速将达到11%（vs 一致预期12% in 2021），恒生指数盈利增速将达12%（vs一致预期2% in 2021）。“再通胀”依旧是主线，但明年的关注点将切换到CPI及消费品涨价。产业升级是发展的大趋势，中国核心优势还是先进制造力。监管政策的引导下，资本市场估值也将有所体现，持续看好高景气高资本开支行业：工业数字化（云计算），新能源，半导体，CXO等，但从投资角度，我们会更注重其在内在业绩增长的持续性和目前估值匹配度。\n以港股为代表的海外上市中国公司估值已处于历史底部，但内部结构分化仍很严重。\n受到“反垄断”，“双减”及地产政策等影响，今年以来海外上市的中国“核心资产”普遍表现不佳，而顺周期，新能源相关的表现相对较好，板块内结构出现明显分化。港股恒生指数在8月以来接近“破净”，如考虑2020年恒生指数纳入阿里巴巴、美团等对权重的影响，估值更低。相较于A股， A/H折溢价目前在145左右，接近历史最高点。我们认为，整体而言市场已充分反映或可能过多反映负面情绪，而投资者又拥挤交易在有限的板块：国潮品牌、新能源运营商、CXO等。\n展望2022年，风险逐步落地，监管常态化将有助于估值修复，特别对政策强监管行业及产业链。\n2022年，我们预计监管政策将趋于常态化，总体以“稳”为主。境外对地产企业无序违约担忧将逐步释放，地产调控的关注点也将从信用风险转向更中长期如“房产税”等制度建设议题，有利于降低整体尾部风险。本轮监管政策密集落地，对互联网等行业产生深远影响，强监管下市场会更快进入“去伪求真”的阶段（参考2018年医疗行业经历“集采”过后，真正具备创新能力的药企崛起），创新是科技或互联网永恒主线。我们预计在《个人信息保护法》等法规相继落地后，具备良好公司治理能力的公司有望脱颖而出。地产行业在信用压力下，我们看到其下属物业板块通过兼并重组，集中度有望迅速提升，利好龙头公司。\n“再通胀”依旧是主线，但明年的关注将切换到CPI及消费品涨价。\n我们预计MSCI China明年盈利增速将达到11%（vs一致预期12% in 2021），恒生指数盈利增速将达12% （vs一致预期2% in 2021）。消费今年明显受到压制，汽车缺芯等供给侧问题也影响整体消费增速，上游端成本压力进一步影响盈利水平。明年通胀环境下，我们预计PPI端的涨价压力将逐步向CPI传导，部分调味品、酒的涨价今年已经有所端倪，明年必选消费品中养殖、食品饮料等各类细分品种涨价逻辑或成为贯穿全年投资主线。2021年局部散点疫情抑制了国内消费场景的复苏，但参考今年“五一”期间全国未出现大范围疫情的情况下，酒店龙头RevPAR均恢复至2019年同期水平，甚至更优。叠加明年潜在的通关预期，国内服务相关消费或有超预期可能。\n创新不眠，产业升级是中国发展的大趋势，中国核心优势还是先进制造力，在监管政策的引导下，资本市场估值也将有所体现。我们持续关注高景气、高资本开支的工业数字化（云计算）、新能源、半导体、CXO等。\n疫情对数字化加速有不可逆的影响，中国的产业升级也因“碳中和”明显加速。在MSCI China细分赛道中，动力电池、光伏、半导体、CXO、电子元器件、军工等细分赛道过去几年资本开支始终处于上行阶段，未来数年内有望逐渐进入业绩兑现期。但这些高景气赛道普遍处于较高估值分位，我们将更注重其业绩增长的持续性和估值的匹配度。\n风险因素：\n中美关系恶化风险，中国及全球宏观经济修复不及预期，国内流动性收紧，房地产企业信用风险持续发酵，相关产业政策不达预期风险。\n投资策略：\n展望明年，我们在投资上聚焦3条主线：消费品涨价、碳中和及创新转型（数字化和CXO）。由于目前市场个别板块处在极限低估位置，我们同时加入部分高分红的低估值个股。结合行业分析师推荐，我们看好海外上市中资股中的腾讯控股、百度集团-SW、阿里巴巴-SW、华虹半导体、舜宇光学科技、碧桂园服务、华润万象生活、吉利汽车、福耀玻璃、JS环球生活、华住酒店-SW、蒙牛乳业、药明康德、邮储银行、赣锋锂业、金风科技、海吉亚医疗、华润电力、广发证券、港交所，A股中的温氏股份、大北农、绝味食品、贵州茅台、珀莱雅、北新建材、长城汽车、拓普集团、通威股份、大全能源、晶盛机电、奥特维、亿纬锂能、新宙邦、深信服、歌尔股份、紫光国微、石基信息、迈瑞医疗、三花智控。","news_type":1,"symbols_score_info":{"HSI":0.9,"HSTECH":0.9,"HSCCI":0.9,"HSCEI":0.9}},"isVote":1,"tweetType":1,"viewCount":3462,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}